The IPOX® Update 7/28/23
California airline Surf Air Mobility's shares plummeted in a NYSE direct listing, while South Korean firm Yudo is preparing for a $100M US IPO. Majestic Ideal Holdings is set for the first Chinese US IPO under stricter share sale rules, and Cinema XXI, Indonesia's leading cinema chain, has priced its IPO at the lower end. Crypto mining retailer Phoenix Technology is in preliminary talks for an Abu Dhabi IPO, and Chinese used car marketplace Taoche seeks $200M ahead of a 2024 US IPO. Anhui Conch Material, a subsidiary of a Chinese cement producer, is planning a $100M Hong Kong IPO.
The IPOX® Update 7/27/23
US regional carrier Surf Air Mobility is preparing for a major direct listing following a merger with Southern Airways. Middle Eastern IPOs have garnered $5.1 billion in 2023, driven by private companies and contributing 34% of EMEA's total IPO proceeds. Hong Kong Exchanges and Clearing and the Indonesia Stock Exchange are joining forces to explore cross-border listings. French automaker Renault's Ampere IPO looks promising despite concerns about its pricing strategy. Chinese titanium and zirconium refiner Guangdong Ubridge is planning a $300 million IPO on the Hong Kong Stock Exchange as part of its global expansion strategy.
The IPOX® Update 7/26/23
Greyhound Bus and train operator Flix plans an IPO for 2024, while Australian crypto tech firm DSS looks to Nasdaq for its IPO after being rejected by the ASX. Meanwhile, Pertamina Hulu Energi and PT Akseleran Usaha Indonesia have halted their IPO plans, citing unfavorable market conditions. Italian steelmaker Feralpi aims for a 2024 IPO, while China's Ant Group is planning restructuring before its IPO. In EV news, Renault and Nissan commit to joint projects, potentially including an IPO for Renault's EV unit, Ampere. Singaporean biotech firm Mirxes applies for a Hong Kong IPO and Chinese AI tech firm Haomo Zhixing considers a similar move.
The IPOX® Update 7/25/23
The IPO market signals a potential rebound, highlighted by Oddity Tech's successful debut and upcoming IPOs from Arm, Klaviyo, Turo, and Birkenstock. Meanwhile, UAE-based classifieds platform Dubizzle has engaged Citigroup and HSBC for a potential IPO. Citigroup has also acquired Deutsche Bank's Mexican license, setting the stage for its Banamex unit's IPO. Australian mining firm Molycop plans a $680 million IPO amid rising copper demand. Contrarily, China's securities watchdog has called for less negative policy descriptions in U.S. IPO prospectuses, a move that may deter global advisors and banks from facilitating Chinese IPOs.
The IPOX® Update 7/24/23
IPOX® holding Symbotic surges as the Warehouse automation specialist and SoftBank form a $100m joint venture, GreenBox Systems, with SoftBank increasing its stake. Creative Global Technology Holdings is preparing for an $18m US IPO to expand its business. Surf Air Mobility plans a direct listing on the NYSE this Friday. Amid local regulations, six Chinese bubble tea chains, including Mixue Bingcheng, are eyeing overseas IPOs. Snack shop chain, Busy For You, is considering a Hong Kong IPO to raise between $100-200m. Mitsubishi Motors is deciding on investment in Renault's EV IPO, Ampere. Hua Hong Semiconductor announces a $3 billion IPO plan on Shanghai's STAR board.
The IPOX® Update 7/20/23
Direct-to-consumer beauty and tech firm Oddity triumphed in its IPO, signaling potential growth for the IPO market. Meanwhile, Bank of America predicts a slow revival for Europe's IPO market, with successful launches by Hidroelectrica SA and Nucera, amidst adverse conditions that led to the withdrawal or postponement of several IPOs. UAE-based edtech firm Alef Education is considering an IPO, reflecting a growing trend in the Persian Gulf region. Megvii Technology, an Alibaba-backed AI startup, restarts its IPO application. Finally, Chinese electronics reseller Creative Global Technology Holdings files for an $18M US IPO, marking another step for tech companies in the IPO space.
The IPOX® Update 7/19/23
Beauty and wellness firm, Oddity Tech, prices IPO, surpassing expectations with a $424M offering, and valuing the company at around $2.4B fully diluted. Meanwhile, Nevada-based Taiwanese firm, Advanced Biomed, plans a $112.5M IPO to fund cancer detection biochip development. Morgan Stanley CEO, James Gorman, predicts a resurgence in deal-making following future Fed rate hikes, despite current declines in IPOs. Aleph Group, a digital advertising firm, withdrew IPO plans amid market turbulence and concerns over high interest rates. Finally, South Korean companies are rushing to go public in anticipation of impending IPO regulation changes.
The IPOX® Update 7/18/23
Biotech firm Turnstone Biologics is launching a $75.4M IPO with backing from Takeda. Pharma giant Novartis has upgraded its forecast and is preparing an IPO for its generic-drugs unit Sandoz. Chinese AI chip startup Shanghai Biren is contemplating a Hong Kong IPO as an alternative to banned Nvidia chips. The Australian tech IPO market is forecasted to rebound, led by hopefuls like Brennan IT and CurveBeam AI. SK Pharmteco is seeking a $500M pre-IPO deal, planning for an IPO in 2025. Meanwhile, Finnish EV charger maker Kempower's stock has surged following an upgraded full-year outlook.
The IPOX® Update 7/17/23
Israeli beauty tech firm Oddity Tech raises its IPO price range, eyeing a $357 million valuation. In Indonesia, PT Nusantara Sejahtera Raya, the largest cinema chain operator, successfully raised $150 million in an IPO, breaking a streak of high-priced Jakarta IPOs. State palm oil planter PalmCo and oil & gas company Pertamina Hulu Energi prepare for their IPOs, bolstering Indonesia's public markets. Meanwhile, inflammation-focused pharma firm MoonLake Immunotherapeutics is exploring a potential sale, causing its shares to surge.
The IPOX® Update 7/14/23
General Atlantic, Goldman Sachs Asset Management, Kahoot’s CEO, and Kirkbi Invest propose a $1.7 billion buyout of Norwegian ed-tech company Kahoot! ASA, supported by investors who hold 34% of Kahoot's shares. In other news, Chinese agribusiness firm Syngenta is seeking Middle Eastern sovereign funds for its $9 billion Shanghai IPO. Simultaneously, car manufacturer Nissan is investing ¥100 billion in Renault's electric vehicle venture, Ampere.
The IPOX® Update 7/13/23
Multiple global companies, including Brazil's JBS, Restaurant Brands Iberia, Wisekey International, Liquid Death, Lemon Sky Studios, and Healthy Green Group, have announced plans for their respective IPOs.
The IPOX® Update 7/12/23
SoftBank-backed Arm Ltd. discusses IPO with Nvidia; Romanian Hidroelectrica debuts on Bucharest Stock Exchange; AXA mulls over private sale or IPO for XL Re; Tryt Inc. prices Tokyo IPO at 1,200 yen per share; Star Plus Legend Holdings' IPO oversubscribed 13 times; Oklo goes public via SPAC merger; Toronto Stock Exchange experiences IPO slump; Maggioli SpA withdraws IPO due to unsatisfactory market conditions.
The IPOX® Update 7/11/23
Surf Air Mobility is set to trade on NYSE following a merger with Southern Airways. Biotech firm Apogee Therapeutics plans a $250 million IPO. Sagimet Biosciences files for an IPO in the NASH field. Oddity Tech files for an IPO on Nasdaq. Marti Technologies begins trading on NYSE. China's largest online fitness platform, Keep, is set to list in Hong Kong. Seed producer Syngenta plans a $9 billion IPO in Shanghai. Genesis MedTech weighs a potential $500m IPO in Hong Kong. Taiwan's stock exchange expects a surge in IPO applications.
The IPOX® Update 7/10/23
German firm Intilion postpones IPO, Apogee Therapeutics targets $774.5m in its IPO, Bayer's shares increase on potential spinoff news, WuXi XDC Cayman files for a Hong Kong IPO, and Autozi Internet Technology seeks a $29m US IPO.