The IPOX® Update 5/30/2026

U.S.

OpenAI Discusses Adding Citi and JPMorgan to IPO Banking Lineup

OpenAI, the U.S. artificial intelligence company behind ChatGPT, has discussed adding Citigroup and JPMorgan to its IPO banking lineup, potentially joining Goldman Sachs and Morgan Stanley. A confidential IPO filing is expected within weeks, although the report did not disclose an IPO size, valuation, exchange, or timing beyond the expected filing window. The offering would be one of the highest-profile AI IPOs and could position OpenAI ahead of rival Anthropic in the public markets. (Source)

Innio and Doncasters Advance U.S. IPO Plans as European Firms Seek U.S. Liquidity

Innio Holding GmbH, an Advent- and ADIA-backed gas engine manufacturer, is targeting a valuation of up to $20.25 billion in a planned Nasdaq IPO, supported by investor demand for AI infrastructure and power-generation exposure. Doncasters Group, an aerospace components supplier to Boeing, Rolls-Royce, and Honeywell, filed for a NYSE IPO to reduce debt, including a costly PIK loan, and to fund potential acquisitions; the company reported $837 million in revenue and $138 million in adjusted EBITDA last year. IPOX® Associate Lukas Muehlbauer noted that both European companies are aligning U.S. listings with customer bases, North American expansion, and access to deeper liquidity. (Source 1) (Source 2) (Source 3)

Entrata Files for NYSE IPO, Testing Demand for Profitable Software Listings

Entrata, a Silver Lake-backed property management software company, filed for a NYSE IPO with an estimated size of about $500 million. The company was valued at $4.3 billion after a Blackstone investment and would be the first pure enterprise software IPO since Navan in 2025. Entrata reported $98.4 million in operating profit on $536.2 million in revenue, with first-quarter revenue growth of 23%, and its software manages about 2.5 million apartments. (Source)

Liftoff Mobile Targets $3.66 Billion Valuation in Nasdaq IPO

Liftoff Mobile, a Blackstone-backed mobile app marketing technology company, is seeking to raise up to $418 million by offering 19 million shares at $20 to $22 each. The company plans to list on Nasdaq under the ticker LFTO, with Goldman Sachs, Jefferies, and Morgan Stanley serving as joint lead underwriters. Blackstone formed Liftoff in 2021 by combining Liftoff and Vungle and beneficially owned 56.8% of shares before the offering; IPOX® CEO Josef Schuster said a successful listing could help reopen the path for similar software firms despite AI-related valuation concerns. (Source 1) (Source 2)

Safepoint Seeks $1.16 Billion Valuation in NYSE IPO

Safepoint is pursuing a U.S. IPO that could value the company at up to $1.16 billion and raise as much as $283.3 million. The company is expected to list on the NYSE under the symbol SFPT. IPOX® CEO Josef Schuster framed the deal within a stronger post-Memorial Day IPO market, citing the IPOX® 100 U.S. Index’s year-to-date gains and strong portfolio earnings as indicators of renewed investor demand for IPOs. (Source)

WhiteHawk Minerals Targets $701 Million Valuation in NYSE IPO

WhiteHawk Minerals, a natural gas royalty company, is seeking to raise up to $187 million in a planned U.S. IPO that could value the company at up to $701.2 million. The company plans to list on the NYSE under the ticker WHK. IPOX® Associate Lukas Muehlbauer said the deal benefits from investor interest in AI-adjacent energy businesses, electricity demand, and domestic energy assets tied to U.S. power growth. (Source)

China’s DSC Files for Nasdaq IPO After Rare Regulatory Clearance

DSC, a China-linked company, filed for a U.S. IPO after receiving rare regulatory clearance from Chinese authorities despite reporting a nearly 29% revenue decline in 2025. The company is pursuing a planned Nasdaq listing, though the provided article did not disclose the IPO size or valuation. IPOX® Associate Lukas Muehlbauer said the approval suggests qualified China-linked issuers can still access U.S. public markets as IPO sentiment broadens to non-U.S. deals. (Source)

Asia-Pacific

Kunlunxin Aims for $1 Billion–$2 Billion Hong Kong IPO in June

Kunlunxin, Baidu’s artificial intelligence chip unit, is aiming to launch a Hong Kong IPO in June, pending regulatory approvals. The planned offering size is estimated at $1 billion to $2 billion. CICC, Citic Securities, and Huatai International are expected to lead the transaction, with the spinoff intended to highlight Kunlunxin’s standalone value and attract AI-focused investors. (Source)

Big Caring Group Seeks Up to $750 Million in Malaysia IPO

Big Caring Group Bhd., Malaysia’s largest pharmacy chain, is seeking to raise as much as 3 billion ringgit, or about $750 million, in a Malaysia IPO. Backed by private equity firm Creador, the company aims to complete the IPO by October this year. Big Caring owns brands including Big Pharmacy and Caring Pharmacy, operates 626 outlets in Malaysia, and plans to open about 40 to 50 new retail locations annually over the next three to five years. (Source)

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