The IPOX® Update 10/2/2026

U.S.

Anthropic Advances Potential $100 Billion IPO as Marketing Shifts to November

Anthropic is advancing plans for what could become one of the largest IPOs ever, with formal marketing potentially beginning during the week of November 9 after earlier timetable delays. The AI developer has been discussed at a valuation of around $2 trillion and could seek as much as $100 billion. A leaked prospectus disclosed more than $500 billion of long-term infrastructure commitments, while the company’s reliance on Amazon and Google for cloud distribution and computing has highlighted concentration and potential conflict-of-interest risks ahead of the offering. (Source 1) (Source 2) (Source 3)

Solidigm Explores $15 Billion U.S. IPO at Valuation of Up to $150 Billion

Solidigm, SK Hynix’s U.S. NAND-storage subsidiary, is considering a U.S. IPO as early as 2027 that could raise roughly $15 billion and value the company at as much as $150 billion. The enterprise-storage company has held pitch meetings with investment banks as it evaluates what could become one of the largest semiconductor listings ever. SK Hynix said no final decision has been made and indicated it would consider shareholder-protection measures amid concerns that a separate listing could dilute existing shareholder value. (Source 1) (Source 2)

Oura Postpones $2.2 Billion Nasdaq IPO Despite Strong Investor Demand

Oura postponed its planned Nasdaq IPO shortly before pricing as higher bond yields, expectations for additional interest-rate increases and broader market volatility made investors more selective toward new listings. The smart-ring maker had marketed 50 million shares at $40–$44, targeting proceeds of up to $2.2 billion and a fully diluted valuation of about $15.62 billion, while reported demand was approximately four times the shares offered. IPOX® Research Associate Lukas Muehlbauer told Reuters that higher rates are increasing selectivity around growth valuations while emphasizing that the IPO window remains open. (Source 1) (Source 2)

EG Group Delays Planned $1 Billion New York IPO as Takeover Interest Emerges

EG Group, the UK-based petrol-station and convenience-store operator, has delayed its planned New York IPO until 2027 amid difficult market conditions and concerns about achieving its targeted valuation. The company had been preparing to raise around $1 billion at a valuation of approximately $9 billion, potentially through its Cumberland Farms business. The delay has attracted takeover interest, including from infrastructure investor Stonepeak, while EG Group continues to reduce debt through asset sales and considers a private transaction as an alternative to a public listing. (Source)

Blockchain.com Targets $500 Million U.S. IPO at Valuation of Up to $6 Billion

Blockchain.com is pitching investors on a potential U.S. IPO before the end of 2026, seeking to raise roughly $500 million at a valuation of between $4 billion and $6 billion. The cryptocurrency platform confidentially submitted IPO documents to the SEC earlier this year, and management could accept a smaller transaction if necessary to complete the listing. The proposed valuation remains well below the company’s $14 billion private-market peak reached in 2022 despite the recent recovery in digital-asset markets. (Source)

Europe

Airtel Money Prices £529 Million London IPO at $7 Billion Valuation

Airtel Money priced its London IPO at £1.96 per share, implying a market capitalization of approximately £5.3 billion, or $7 billion. Existing shareholders will sell 270 million shares, giving the base deal a value of roughly £529 million, or about $703 million, with an additional over-allotment option available; admission to the London Stock Exchange is expected on October 14. IPOX® Associate Lukas Muehlbauer told Reuters that the transaction demonstrates London’s ability to attract sizable international offerings while also reflecting a buyer’s market in which issuers need to remain realistic about valuation expectations. (Source 1) (Source 2) (Source 3)

Asia-Pacific

Firmus Prices Nearly $5 Billion ASX IPO at A$11 as Investors Scrutinize Valuation

Firmus priced its planned Australian IPO at A$11 per share, targeting A$7.1 billion, or approximately US$4.94 billion, in proceeds. The terms imply an equity valuation of about $30.6 billion, almost triple the company’s roughly $10.5 billion valuation in an August private funding round. The institutional bookbuild is expected in early October, with ASX trading targeted for October 23, while prospective investors are scrutinizing the AI-infrastructure operator’s rapid valuation increase, project pipeline and debt burden. (Source)

Dongshan Precision Targets $2 Billion–$3 Billion Hong Kong Listing

Dongshan Precision, the Shenzhen-listed printed-circuit-board manufacturer, is preparing a Hong Kong secondary listing that could raise between $2 billion and $3 billion. The company could launch the offering as early as October after receiving Chinese regulatory clearance for the H-share issuance. Dongshan produces printed circuit boards, optical transceivers and precision electronic components used in smartphones, automotive systems and AI-related infrastructure, with UBS, Guotai Haitong, GF Securities and CITIC Securities serving as joint sponsors. (Source)

Asset World Targets at Least $1 Billion Thai REIT IPO

Asset World Corp plans to raise at least $1 billion through a new real-estate investment trust targeted for listing in Thailand in early 2027. The vehicle is expected to contain four hotels and an office building valued at roughly 48 billion baht, or about $1.44 billion, with foreign institutional investors expected to take around half of the initial offering. Asset World intends to use the REIT as a recurring funding platform, recycling capital from mature properties into new hospitality and commercial projects while strengthening its balance sheet. (Source)

GCash Parent Mynt Prices $845 Million Philippine IPO Ahead of October 20 Debut

Mynt, owner of the GCash digital-wallet platform, priced its Philippine IPO at 6.60 pesos per share, putting the base offering at approximately 53 billion pesos, or $844.7 million. Full exercise of the 1.2 billion-share overallotment option could increase proceeds to roughly 60.9 billion pesos and make the transaction the Philippines’ largest IPO on record. Institutional demand exceeded the available shares, cornerstone investors committed 36.5 billion pesos, and Mynt is expected to begin trading on the Philippine Stock Exchange on October 20 following the October 6–12 retail offer. (Source 1) (Source 2)

ESWIN Computing Launches Roughly $318 Million Hong Kong IPO

Beijing ESWIN Computing Technology launched its Hong Kong IPO with approximately 1.57 billion H shares offered at HK$1.48–HK$1.59 each. At the top of the range, the transaction would raise around HK$2.5 billion, or roughly $318 million, while nine cornerstone investors have committed approximately HK$1.16 billion. ESWIN develops RISC-V-based chips, chipsets and related software for smart devices, vehicles, robotics and industrial systems, with trading expected to begin in Hong Kong on October 9 under stock code 1256. (Source 1) (Source 2)

AI Property-Tech Company Toggle Plans Roughly $86 Million Tokyo IPO

Toggle Holdings is preparing an approximately ¥13.6 billion, or $86 million, IPO on the Tokyo Stock Exchange Growth Market. The transaction is expected to include about 2.25 million primary shares and 1.12 million secondary shares, with additional shares available through an overallotment option. Bookbuilding is scheduled for October 14–20 ahead of an expected October 30 listing, with proceeds earmarked for hiring and employee development, investment in subsidiaries and potential acquisitions; SMBC Nikko, UBS and SBI are among the bookrunners. (Source)

MENA

MNT-Halan Launches Egyptian IPO After Reaching $1.4 Billion Private Valuation

MNT-Halan plans to sell 20% of its shares through an IPO on the Egyptian Exchange, with completion expected during October subject to regulatory approvals and market conditions. The Egyptian fintech will offer 320 million existing shares through institutional and public tranches, with scope for an additional employee allocation. MNT-Halan was valued at $1.4 billion in a private funding round earlier this year, and the listing would provide public-market exposure to Egypt’s digital lending and payments sector. (Source)

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.