The IPOX® Update 8/28/2026

U.S.

Oura Targets Up to $3 Billion U.S. IPO at Valuation Above $16 Billion

Oura Health, the smart-ring maker, and some existing shareholders are preparing a U.S. IPO that could raise as much as $3 billion and value the company at more than $16 billion. The offering could take place as soon as September and is expected to include a substantial secondary component from existing investors. Oura confidentially filed in May and is working with Goldman Sachs, Morgan Stanley, JPMorgan, Allen & Co. and Jefferies, following a 2025 financing round that valued the company at approximately $11 billion. (Source)

Aggreko Files for NYSE IPO, With Potential $1 Billion Raise

Aggreko, the Glasgow-based temporary-power and energy-infrastructure provider, has filed for a U.S. IPO and plans to list on the NYSE under ticker AGKO. The all-primary offering could raise approximately $1 billion, while a public-market valuation of around $15 billion has been reported. First-half 2026 revenue increased 28% to about $1.92 billion as demand from data centers accelerated, and Goldman Sachs, JPMorgan and Bank of America are among the lead banks. (Source 1) (Source 2)

Ursa Major Agrees $2.3 Billion Public Listing Through SPAC Merger

Ursa Major, an aerospace and defense technology company, has agreed to go public through a merger with Bleichroeder Acquisition Corp. III at a post-transaction equity valuation of approximately $2.3 billion. The deal implies a pre-money valuation of around $1.6 billion and includes at least $350 million of PIPE financing led by Inflection Point. Proceeds are expected to support expansion of manufacturing capacity for solid rocket motors, the HAVOC missile system and hypersonic propulsion technology, with completion subject to regulatory and shareholder approvals. (Source)

American Savings Bank Files for NYSE IPO Under Ticker ASBH

American Savings Bank, a Hawaii-based lender with approximately $9 billion of assets, has publicly filed for an IPO and applied to list on the NYSE under ticker ASBH. The bank has not yet disclosed a share count or proposed price range, leaving the IPO size undetermined, although Hawaiian Electric's 2024 divestment valued the business at approximately $450 million. Piper Sandler is leading the offering, which would return the bank to public ownership following its acquisition by an investor consortium in late 2024. (Source)

Europe

KNDS Considers Relaunching IPO as Soon as Second Half of September

KNDS, the Franco-German defense manufacturer behind the Leopard 2 and Leclerc tanks, is preparing to restart investor meetings and could relaunch its IPO as soon as the second half of September. The company previously postponed its flotation after weakness in European defense stocks, while an early-2027 listing remains an alternative if investor demand is insufficient. Earlier reporting indicated a potential valuation of approximately €18 billion–€20 billion, with the French state and German family shareholders previously considering sales of roughly 10% each. (Source 1) (Source 2)

Asia-Pacific

Syngenta Remains on Track for Potential $10 Billion Hong Kong IPO

Syngenta, the Switzerland-headquartered agribusiness controlled by China's Sinochem, remains a major candidate for a Hong Kong IPO of up to $10 billion, although the precise timing has not been disclosed. The global seeds and crop-protection company recently reported second-quarter sales down 7% to $5.7 billion and EBITDA down 2% to $1 billion, partly reflecting restructuring of lower-margin Chinese operations. At the reported fundraising level, the transaction would rank among the world's largest prospective IPOs. (Source 1) (Source 2)

Medcaptain Launches $77 Million Hong Kong IPO Targeting September 7 Listing

Medcaptain, a medical-device manufacturer, opened its Hong Kong IPO on August 28 and plans to list on September 7 under stock code 02041. The company is offering approximately 38.9 million shares at HK$15.42 each, implying gross proceeds of about HK$600 million, or $77 million, and an indicated post-offering market capitalization of roughly HK$8.3 billion. Morgan Stanley Asia and Huatai International are sponsoring the transaction, while Medcaptain's life-support, minimally invasive intervention and diagnostic products are sold in more than 140 countries and regions. (Source 1) (Source 2)

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