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The IPOX® Newsletters
IPOX® in the News
IPOX® Founder Josef Schuster was featured in CNBC coverage of SpaceX’s upcoming IPO, noting IPOX® has “always taken a wait-and-see approach to that market.” He called very low float “a big red flag” and warned, “Anything below 7%, you have to be really careful.” Schuster added investors should avoid “jumping in at this point,” preferring to “let it trade and see” as IPO entry points can become more attractive after initial trading.
IPOX® Associate Muehlbauer was quoted in Reuters coverage of smart ring maker Oura’s confidential U.S. IPO filing, as renewed momentum returns to the new listings market. Muehlbauer said investor appetite for Oura should be decent given recent health-tech listings and renewed buyer interest in companies with repeat revenue and paths to profit. He also highlighted Oura’s partnerships across health, sport, retail and enterprise channels as growth drivers that could strengthen the brand’s defensibility and public-market appeal as it prepares to list publicly.
IPOX® Associate Lukas Muehlbauer was quoted in Reuters coverage of SpaceX’s expected mega IPO and its implications for the broader listings market. Muehlbauer noted that SpaceX’s scale and valuation make it an unusual test case, while investor appetite remains concentrated in companies tied to strong themes such as AI infrastructure, defense, energy, industrials and biotech. He also discussed how issuers may accelerate IPO plans ahead of the anticipated listing.
IPOX® VP Kat Liu commented on OpenAI’s accelerated IPO plans in Reuters coverage, noting that the resolution of Elon Musk’s legal challenge “removed a major obstacle” and likely gave the company confidence to speed its timeline. Liu also highlighted the significance of OpenAI potentially filing near SpaceX, saying simultaneous filings could prompt portfolio managers to evaluate both companies side by side. Reuters reported that OpenAI is preparing a confidential U.S. IPO filing in the coming weeks amid major AI interest.
IPOX® Associate Lukas Muehlbauer commented in Reuters coverage on Blackstone Digital Infrastructure Trust’s muted market debut after its $1.75 billion IPO. Muehlbauer noted that the timing is crucial because thematic IPO windows can open and close suddenly, adding that strong demand for Cerebras shows the window is currently wide open. He said BXDC could become a template for data center, power or AI infrastructure vehicles, while investors are buying into Blackstone’s execution capability and longstanding sector history.
The IPOX® Update
Global IPO activity is accelerating across major regions, led by U.S. filings from SpaceX, OpenAI, Oura, Blockchain.com, SB Energy and ERock. Europe is seeing momentum through KNDS’s planned Frankfurt listing, Uzbekistan’s London IPO and Germany’s Uniper sale options, while Asia-Pacific activity includes Dien May Xanh in Vietnam and PCG Power in Hong Kong. Dangote’s planned refinery IPO adds MENA exposure. Themes include AI infrastructure, energy, defense, crypto, health technology and large-scale strategic listings amid renewed investor demand for IPOs worldwide.
U.S. IPO activity accelerated with major AI, infrastructure, energy and fintech listings, led by SpaceX’s planned $75 billion Nasdaq IPO, Cerebras’ $5.55 billion debut, and Blackstone Digital Infrastructure Trust’s $1.75 billion offering. Forbright, Quantinuum, WhiteHawk and Kraken also advanced IPO plans. In Europe, KNDS pressed ahead with a summer IPO while Germany weighed a stake. In Asia-Pacific, Baidu’s Kunlunxin, Cyan Renewables and KK Mart pursued Hong Kong, Singapore-related and Bursa Malaysia listing options, reflecting renewed global investor appetite for issuance.
Global IPO activity is accelerating across major regions, led by large technology, infrastructure, and consumer listings. In the U.S., Blackstone’s data center vehicle, Cerebras, Quantinuum, Lime, Odyssey, Applied Aerospace & Defense, and Tenneco highlight strong demand for AI, quantum, biotech, mobility, defense, and industrial deals. Europe is seeing London IPO plans from Barnes & Noble/Waterstones and Dangote Cement, while Asia-Pacific features major Hong Kong and Tokyo listings from Syngenta, Kunlunxin, Three-Circle, Go, Sany Heavy, and SkinKandy this year overall globally.