The IPOX® Update 4/24/2026

U.S.

Historic $3 Trillion Tech Wave Looms as SpaceX and OpenAI Near Public Debuts

An unprecedented IPO wave is building in the technology sector, with currently unprofitable powerhouses SpaceX, OpenAI, and Anthropic targeting a staggering combined valuation of $3 trillion. SpaceX is exploring a massive $1.75 trillion listing to fund major artificial intelligence ambitions, attracting investment interest from entities like Norway's sovereign wealth fund despite its high capital expenditure warnings. The market debuts of these highly anticipated companies could dramatically reshape the public equities landscape and fast-track the entry of large-cap newcomers into major indices. (Source 1) (Source 2)

Milan Tech Firm Bending Spoons Prepares for $20 Billion U.S. Listing

Italian technology company Bending Spoons, known for acquiring and revitalizing software brands like AOL, Vimeo, and WeTransfer, has officially selected underwriters for a massive U.S. listing. The firm is working with major banks including Goldman Sachs, JPMorgan, Allen & Co, Bank of America, BNP Paribas, and Jefferies to orchestrate an offering targeting a $20 billion valuation. Subject to market conditions, the highly anticipated debut could occur in the coming months, signaling continued robust demand for high-growth European tech exporters in American markets. (Source)

Honeywell Spin-Off Quantinuum Files Confidentially for $10 Billion U.S. IPO

Full-stack quantum computing provider Quantinuum, which is majority-owned by industrial giant Honeywell, has confidentially submitted a draft registration for a U.S. public listing. After achieving a $10 billion valuation during a fundraising round last September, the firm is preparing to tap the public markets to further develop technology for major clients like Airbus, BMW, HSBC, and JPMorgan Chase. The offering remains subject to standard regulatory review by the SEC and broader market conditions as the technology sector regains its footing following recent volatility. (Source)

Blackstone-Backed Liftoff Refiles for U.S. Public Debut Amid Tech Rebound

Following an initial delay due to market volatility in February, Blackstone-backed mobile app marketing firm Liftoff Mobile has officially refiled for a U.S. listing on the Nasdaq under the ticker "LFTO". Supported by lead underwriters Goldman Sachs, Jefferies, and Morgan Stanley, the company aims to use the proceeds to repay a portion of its term loan after beating guidance with $374.4 million in EBITDA. Providing expert commentary on the filing, IPOX® Research Associate Lukas Muehlbauer noted that Liftoff is strategically utilizing this reopening IPO window as investors view the recovering software space as increasingly attractive for new equity listings. (Source)

Texas Stock Exchange Targets Early 2027 for Inaugural Public Listings

The newly established Texas Stock Exchange, or TXSE, is officially planning to host its first IPOs in the opening quarter of 2027. Positioned as a direct regional competitor to industry incumbents like Nasdaq and the New York Stock Exchange, the Dallas-based marketplace is actively courting potential corporate listings from Texas to Florida. According to strategic advisers, the platform will initiate live trading operations with exchange-traded products this summer to build liquidity and infrastructure before onboarding individual companies. (Source)

Mobia Medical and Odyssey Therapeutics Keep Healthcare Listing Streak Alive

Mobia Medical has filed for a public offering with underwriters BofA, JP Morgan, and Goldman Sachs to fund its FDA-approved nerve stimulation device for stroke patients. Concurrently, Odyssey Therapeutics has refiled for a Nasdaq listing guided by JP Morgan, TD Cowen, and Cantor to advance Phase II clinical trials for its ulcerative colitis drug. These coordinated moves underscore a resilient healthcare issuance window, chasing the recent market momentum established by Revolution Medicines and other successful biotech flotations. (Source)

Europe

Revolut Targets Staggering $200 Billion Valuation for 2028 Public Debut

Financial technology giant Revolut is reportedly aiming to command a massive $200 billion valuation when it eventually enters the public markets, representing a 160% jump from its previous funding round. While internal executives have discussed a target range between $150 billion and $200 billion, CEO Nik Storonsky recently clarified in a Bloomberg interview that the event is still roughly two years away. The ambitious valuation goal highlights the immense scale and rapid growth expectations the digital banking firm holds as it continues to aggressively expand its global footprint. (Source)

Sycamore Partners Explores 2027 London Listing for Pharmacy Chain Boots

The private equity owners of British pharmacy and beauty retailer Boots, Sycamore Partners, have hired consultants to conduct a comprehensive strategy overhaul ahead of a potential London listing in 2027. While the discussions remain preliminary and no final decisions have been made, the massive chain operating over 1,800 stores was previously taken private in a $10 billion deal in 2025. Sources indicate that an outright sale to another private equity firm remains a viable alternative if market conditions for a multi-billion pound float prove unfavorable. (Source)

Silex Technology Eyes $100 Million Raise in Stockholm Market Return

Swedish microchip manufacturer Silex Microsystems AB, operating as Silex Technology Inc, is preparing to list its shares on the Nasdaq Stockholm exchange during the second quarter of 2026. Following a recent ownership shift to investors led by Bure Equity and Creades AB from Chinese firm Sai Micro Electronics Inc., the company aims to raise approximately SEK 1 billion in gross proceeds. The proposed share issue could push the firm's total valuation past $1 billion, capitalizing on strong regional demand for domestic semiconductor infrastructure. (Source)

Telecom Operator Digi Postpones Spanish Float Amid Geopolitical Volatility

Romanian telecommunications operator Digi has officially suspended plans to float its Spanish subsidiary due to mounting geopolitical instability stemming from the U.S.-Iran conflict. The company had initially aimed to raise between 150 million and 200 million euros through a primary share sale during the spring issuance window. Despite emerging investor interest, the firm has informed its syndicate banks that it will delay the offering until macroeconomic certainty and broader market conditions improve. (Source)

Engineering Firm TSK Pushes Forward with €150 Million Spanish IPO

Spanish engineering company TSK is moving forward with a 150 million euro IPO on the domestic stock exchange, engaging Santander, CaixaBank, Banca March, Alantra, and JB Capital as coordinators. The primary share offering, targeting institutional investors with a 15% over-allotment option, comes on the heels of the firm reporting 1.035 billion euros in 2025 revenue and a 64.3% surge in net profit. Expected to commence trading by mid-May, the listing proceeds will fund strategic growth across Europe, North America, and the Middle East despite ongoing geopolitical market volatility. (Source)

Asia-Pacific

Vietnamese EV Taxi Fleet GSM Targets Massive $20 Billion IPO in 2028

Green & Smart Mobility JSC, operating under the Xanh SM brand, is planning a major IPO in the second half of 2028 that could value the firm at up to $20 billion. The ride-hailing company operates Vietnam's largest electric taxi fleet, exclusively utilizing vehicles manufactured by Nasdaq-listed sibling company VinFast. Parent conglomerate Vingroup hopes the international listing, potentially in Hong Kong, will generate enormous value as its mobility operations actively expand across Laos, Indonesia, and the Philippines. (Source)

Alibaba-Backed Robovan Operator Zelos Prepares for $600 Million Hong Kong Listing

Zelos Technology, one of the world's largest operators of highly autonomous delivery trucks, is actively in discussions with banks for a potential IPO in Hong Kong. The strategic share sale is expected to raise approximately $600 million to fund the rapid expansion of its 25,000-unit fleet across mainland China, Southeast Asia, and the Middle East. Earlier this year, the robotics firm received an undisclosed cash injection from Alibaba Group Holding Ltd.'s logistics arm, Cainiao, significantly boosting its profile ahead of the public debut. (Source)

Merdeka Gold Targets $300 Million Secondary Listing in Hong Kong

Mining subsidiary Merdeka Gold Resources, backed by parent company Merdeka Copper Gold, is targeting a secondary listing in Hong Kong this May. Working alongside joint sponsors UBS and Citic Securities, the firm aims to raise between $200 million and $300 million to further develop its operations at the Pani Gold Project on Sulawesi Island. The company hopes to replicate the success of its previous domestic debut, where its stock surged 223% from the IPO price following a $270 million capital raise. (Source)

Disclaimer: News summaries may contain mistakes. The information does not constitute financial advice, endorsement or recommendation and should not be considered as such.