Hesai Group (Ticker: 2525 HK) is a China-based leader in three-dimensional LiDAR solutions used in advanced driver assistance systems (ADAS), autonomous vehicles, robotics and industrial automation. Hesai plans to list Class B shares on the HKEX Main Board on Sept. 16, 2025, offering 17.0 million new shares at HKD 228.00 per share to raise about HKD 3.88 billion (USD 497.3 million). All shares are primary, with a 15% greenshoe of 2.55 million shares available. The offering is managed by a syndicate including ABCI Capital, BOCI Asia, CCB International, CMB International, CICC HK Securities, DBS Asia Capital, Futu Securities and others, with CMB International, Guotai Junan Capital and CICC HK Securities as sponsors. Hesai intends to use IPO proceeds for R&D and product capacity expansion, brand promotion and business development, as well as working capital and strategic acquisitions.

StubHub Inc. (Ticker: STUB US) is a U.S.-based online ticketing marketplace specializing in secondary sales for live events. The company plans to list on the New York Stock Exchange on September 17, 2025, offering 34,042,553 primary shares at a price range of $22.00 to $25.00 per share, raising up to $851 million. At the top of the range, StubHub targets a valuation of approximately $9.2 billion. Backed by Madron Partners and Bessemer Venture Partners, StubHub sold more than 40 million tickets across 200 countries in 2024, making it one of the world’s largest secondary ticketing platforms. The deal is led by J.P. Morgan and Goldman Sachs as joint bookrunners. StubHub was co-founded in 2000 by current CEO Eric Baker, who reacquired the company in 2020 through his rival platform viagogo.

160 Health International Ltd. (Ticker: 2656 HK) is a China-based pharmaceutical and healthcare product wholesaler and a leading digital healthcare integrated service provider operating the Healthcare 160 Platform. 160 Health plans to list on the HKEX on Sept. 17, 2025, offering 33.65 million common shares at HKD 14.86 per share, to raise approximately HKD 499.97 million (about USD 64.20 million). The company serves business customers and individual users with a wide assortment of pharmaceutical and healthcare products under wholesale and retail models, and provides online healthcare and wellness solutions connecting institutions, medical professionals and users across China. The syndicate includes ABCI Capital, BOCI Asia, Eddid Securities & Futures, Livermore Holdings, Shenwan Hongyuan Securities (HK), and South China Securities. A 15% greenshoe (5.05 million shares) is available.

WaterBridge Infrastructure LLC (Ticker: WBI US) is a U.S. company specializing in water management solutions for oil & gas E&P customers, predominantly in the Delaware Basin. WaterBridge plans to list on the NYSE and the new NYSE Texas on Sept. 17, 2025, offering 27.0 million shares at $17.00–$20.00, to raise about $499.5 million at the $18.50 midpoint. The company is incorporated in Delaware and reported a market cap of approximately $2.109 billion. IPO proceeds are expected to total about $461.1 million net, of which roughly $228.2 million will purchase OpCo interests from Elda River, with the balance contributed to OpCo to repay debt and for general purposes, including working capital and growth projects. WaterBridge uses an Up-C structure. Joint bookrunners include J.P. Morgan, Barclays, Goldman Sachs, Morgan Stanley and Wells Fargo Securities.

Netskope, Inc. (Ticker: NTSK US) is a cybersecurity company specializing in cloud and AI-era security and networking solutions. Netskope plans to list on the Nasdaq Global Select Market on September 18, 2025, offering 47,800,000 primary shares at a price range of $15.00 to $17.00 per share, seeking to raise approximately $765 million. Founded in 2012 and headquartered in Santa Clara, California, Netskope provides its Netskope One platform, a unified cloud-native solution designed to secure data, stop threats, and optimize digital interactions for enterprises worldwide. The company reported $707 million in Annual Recurring Revenue as of July 2025, with more than 4,300 customers, including over 30% of the Fortune 100. Proceeds from the IPO are intended for general corporate purposes, including working capital, operating expenses, capital expenditures, tax obligations tied to restricted stock units, and potential acquisitions or debt repayment. Morgan Stanley and J.P. Morgan are leading the underwriting syndicate.

Pattern Group Inc. (Ticker: PTRN US) is a U.S.-based ecommerce accelerator that leverages proprietary AI-driven technology and expertise to help global brands grow across more than 60 marketplaces, including Amazon, Walmart, Tmall, JD, TikTok Shop and Mercado Libre. Pattern plans to list its Series A common stock on NASDAQ on Sept. 18, 2025, offering 21.43 million shares at USD 13.00–15.00 per share to raise approximately USD 300 million. The IPO consists of a 50/50 split between primary and secondary shares, with 10.71 million shares issued by the company and 10.71 million shares offered by selling stockholders. Net proceeds to Pattern are estimated at USD 134.9 million at the midpoint, earmarked for working capital, global expansion, technology investment, and settlement of RSU tax obligations. Goldman Sachs and J.P. Morgan are joint bookrunners, with Goldman Sachs also serving as stabilization agent. The offering includes a 3.21 million-share greenshoe from co-founder trusts.

GenFleet Therapeutics Shanghai Inc. (Ticker: 2595 HK) is a China-based biotechnology company developing innovative medicines for cancer, autoimmune, and inflammatory diseases. Founded in 2017, the company has built a pipeline of eight drug candidates, five of which are in clinical development. Its lead product, Dupert, is approved in China for treating lung cancer, and the company is advancing additional treatments for solid tumors and immune-related conditions. GenFleet plans to list on the Hong Kong Stock Exchange on September 19, 2025, offering 77.6 million primary shares at HKD 20.39 each, raising HKD 1.58 billion (USD 203 million), with an option to sell an additional 15% through a greenshoe. The IPO implies a market capitalization of about USD 904 million. Funds from the offering will be used to support research, clinical trials, and pipeline expansion. The deal is managed by a syndicate including ABCI Capital, BOCOM International, CCB International, CLSA, China Renaissance, and Fosun International.

Orion Breweries Ltd. (Ticker: 409A JP) is a Japanese beer producer headquartered in Okinawa, also engaged in tourism and hotel development. The company, owned by Carlyle Group and Nomura Holdings since 2019, plans to list on the Tokyo Stock Exchange on September 25, 2025. The IPO will consist of 21.67 million secondary shares, with a greenshoe option of up to 3.25 million shares, aiming to raise approximately ¥16.7 billion (USD 113 million) at an estimated offer price of ¥770 per share. This values Orion at around ¥31.4 billion (USD 212 million). According to sources, all proceeds will go to existing shareholders, Carlyle and Nomura, who are partially exiting their investment. The offering is underwritten by Mizuho Securities, Nomura Securities, and SMBC Nikko Securities. A successful debut would mark one of Japan’s notable consumer IPOs of 2025 amid a recovering pipeline.

UNICON Holdings Co., Ltd. (Ticker: 407A JP) is a Japan-based infrastructure contractor overseeing a group of civil and building companies that construct coastal disaster defenses, bridges, roads, rivers and dams nationwide. UNICON plans to list on the Tokyo Stock Exchange (Growth) on Sept. 26, 2025, offering 4.73 million common shares, all secondary, at JPY 1,000–1,060 per share to raise about JPY 5.01 billion (approximately USD 34.04 million). No new shares are issued; proceeds will go to selling shareholders. A 15% greenshoe (708,700 shares) is available. Nomura Securities is the lead manager. Founded in 2019 and headquartered in Sendai, UNICON operates through subsidiaries including Sanwa Kensetsu and other regional contractors. The company’s filing indicates bookbuilding from Sept. 9–16, pricing on Sept. 17, and subscription from Sept. 18–24.

Myung In Pharma Co., Ltd. (Ticker: 317450 KS) is a South Korea–based specialty and generic pharmaceutical company focused on CNS therapies, including treatments for Parkinson’s disease, schizophrenia and depression, along with well-known OTC brands. Myung In Pharma plans to list on the KOSPI on Oct. 1, 2025, offering 3.40 million new common shares at KRW 45,000–58,000 per share to raise KRW 197.20 billion (about USD 140.92 million). The company manufactures finished pharmaceuticals and active pharmaceutical ingredients, serving the domestic and export markets. KB Securities is the sole manager. A note in the filing indicates 680,000 shares are locked up for an employee stock ownership plan for one year after the deposit date. Subscription is scheduled for Sept. 18–19, 2025, with expected pricing on Sept. 17, 2025.