The IPOX® Update 6/20/2026

U.S.

IPOX® Discusses SpaceX IPO, Post-Debut Pullback and Aftermarket Risks

SpaceX was discussed by IPOX® following its post-IPO share decline, with Reuters reporting that the stock fell more than 6% after a sharp debut rally while remaining more than 30% above its $135 offering price. IPOX® Analyst Kat Liu said profit-taking was not surprising given the IPO’s scale and strong initial performance, while IPOX® CEO Dr. Josef Schuster addressed SpaceX’s low float, aftermarket risks, and broader IPO market opportunities in a First Trust webinar. The webinar also highlighted IPOX®’s methodology for tracking IPOs, spin-offs, de-SPACs, REITs, and select IPO M&A, as well as the IPOX® 100 U.S. Index and its 20-year live track record. (Source 1) (Source 2)

Doncasters Targets Up to $4.43 Billion Valuation in U.S. IPO

Doncasters, an aerospace parts maker, is planning a U.S. IPO that could value the company at up to $4.43 billion and raise as much as $746.7 million. IPOX® Associate Lukas Muehlbauer told Reuters that aerospace and defense momentum could support strong IPO pricing, particularly for companies with government contracts, long-term agreements, and visible backlogs. He also noted that investors are likely to focus on whether Doncasters’ capacity investments can convert into profitability as the company remains loss-making during its expansion phase. (Source)

Brookfield-Backed Csquare Files for NYSE IPO as AI Infrastructure Demand Rises

Csquare Inc., a data center provider backed by Brookfield, filed publicly for a U.S. IPO and plans to list on the NYSE under the ticker CSQR. The company operates more than 80 data centers across 30 markets in North America and Europe, and reported quarterly revenue of $270.5 million, up from $232.8 million a year earlier, while recording a net loss of $66 million. IPO proceeds are expected to be used for purposes including repayment of a revolving credit facility and outstanding notes, with Morgan Stanley, TD Securities, Wells Fargo, and BofA Securities among the underwriters. (Source)

IPOX® Associate Highlights SPAC Revival Amid Mega-IPO Frenzy

IPOX® Research Associate Lukas Muehlbauer commented in Reuters that some companies previously considering a traditional IPO may now evaluate SPAC mergers as mega-IPOs compete for investor attention. He noted that existing SPAC vehicles still need to complete transactions before liquidation, leaving capital actively seeking deals. Reuters highlighted renewed SPAC activity and rising issuance, while IPOX® data showed the IPOX® SPAC Index outperforming the S&P 500 year to date, up 16.43% versus 9.73%, amid a more favorable public-market backdrop for new listings. (Source)

Asia-Pacific

Mynt Files for Philippine IPO Targeting $1 Billion Raise and $8 Billion Valuation

Mynt, the operator of the Philippines’ leading e-wallet and finance superapp GCash, is moving ahead with IPO-related filings after Globe Telecom approved a registration statement with the Philippine SEC and a listing application with the Philippine Stock Exchange. The company is targeting a raise of around $1 billion at a valuation of at least $8 billion, with the offering expected to represent about 12% of post-IPO shares through both primary and secondary offers. The IPO is planned for Q4 2026, with JP Morgan, Morgan Stanley, UBS, HSBC, and Jefferies among the underwriters, and existing shareholders including Globe, Ayala, Ant Group, and Mitsubishi UFJ. (Source)

MetaX Plans Hong Kong Listing to Raise at Least $1 Billion

MetaX, a Chinese AI chip startup, is planning a Hong Kong listing that could raise at least US$1 billion. The company, which listed on Shanghai’s Star Market in December, has appointed Huatai Securities as underwriter for the share sale. Proceeds are expected to support research and development, M&A, and working capital, while MetaX reported that its Q1 2026 net loss narrowed to Rmb99 million as revenue rose 75% to Rmb562 million. (Source)

Xiaohongshu Targets Hong Kong IPO by Year-End, Seeking Up to $70 Billion Valuation

Xiaohongshu, the Alibaba- and Tencent-backed Chinese social media platform, is targeting a Hong Kong IPO by year-end, with a confidential filing possible by the end of June depending on regulatory approvals. Investors are reportedly seeking a valuation of more than $70 billion, while recent secondary-market transactions have valued the company in the $30 billion to $50 billion range. The platform has around 400 million users and is widely used for photos, text, videos, and search around travel, fashion, and beauty, with Goldman Sachs, Morgan Stanley, and CICC working on the planned listing. (Source)

Alebund Pharmaceuticals Premarkets $200 Million–$300 Million Hong Kong IPO

Alebund Pharmaceuticals, a Chinese renal therapies company, has started premarketing for a Hong Kong IPO that could raise around US$200 million to US$300 million. Jefferies, Bank of America, and Huatai International are acting as sponsors for the offering. The company counts Tencent and GIC among its pre-IPO investors, with respective stakes of 11.7% and 4.5%, and reported a 2025 net loss of Rmb752 million while revenue rose 370% to Rmb30.6 million. (Source)

Kaluga Queen Caviar Producer Qiandaohu Premarkets Up to $200 Million Hong Kong IPO

Hangzhou Qiandaohu Xunlong Sci-Tech, the world’s largest caviar producer and owner of the Kaluga Queen brand, has begun premarketing for a Hong Kong IPO that could raise US$150 million to US$200 million. The company produced around 300 tonnes of caviar in 2025 and reported net profit of Rmb365 million. Citic Securities and China Securities International are acting as sponsors for the planned share sale, with proceeds expected to support the company’s growth plans. (Source)

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