Johnson & Johnson's exchange offer resulted in Kenvue joining the S&P 500, boosting after-hours trading. Investor optimism about the IPO market's revival is revealed in a KKR survey, with a preference for discounted pricing due to past IPO underperformance. Major listings and considerations include Rakuten's credit card unit, AIR's UAE-based IPO, and L'Occitane's potential European relisting amid its Hong Kong exit. Meanwhile, Midea is aiming for a Hong Kong listing, Tsinghua Unigroup is weighing options for Linxens, and regulatory shifts in China are encouraging softer language in IPO documentation. Lastly, Australian childcare company Nido prepares for its IPO.

Amazon is considering a key investment role in British chipmaker Arm's expected $10 billion IPO, elevating its valuation to around $70 billion. Competition between the NYSE and Nasdaq grows, with Nasdaq securing Instacart and Arm, while NYSE gains Klaviyo and Birkenstock listings amid an IPO market resurgence. Despite a significant rally by Cava Group Inc., US IPO earnings in 2023 have plummeted 94% from 2021, leading to mixed expert predictions. Dutch retailer Royal Ahold Delhaize ponders an IPO for e-commerce subsidiary Bol.com after shelving previous plans. German fleet company DKV, supported by CVC, revives its IPO plans targeting up to €4 billion.

SoftBank's chip design unit, Arm, plans a Nasdaq listing in September, anticipating a $60 billion market cap. Apple and Samsung have expressed interest in the firm, which recently reported a revenue drop of 11%. The MENA region saw 13 IPOs in Q2 2023, raising $1.8 billion, while the first half totaled $5.2 billion from 23 IPOs. Norwegian firm HydrogenPro is eyeing a Nasdaq IPO to fund its U.S. expansion. Novo Nordisk's shares spiked after positive trials of its obesity drug, Wegovy. Chinese EV battery maker, Beijing WeLion, plans a 2025 IPO, boasting technology that has attracted major carmakers.

Next week, three companies from various industries are set to go public. South Korea's first fabless chip unicorn startup, Fadu Inc, aims to raise $147m in its IPO. Indonesian company, Sinar Eka Selaras Tbk PT, plans an IPO with a $27m offering size, while JRC Co Ltd, a Japanese manufacturer of conveyor belt systems, aims to raise $47m. Meanwhile, Swedish property developer, SBB, considers a $3.4 billion IPO for its residential unit. Mainland China's stock exchanges saw no new IPO filings in July due to heightened listing thresholds and a weakened macroeconomy. Despite the summer, the Middle East IPO market remains resilient with multiple listings, including the UAE-based G42 Group. Lastly, Air Baltic is considering an IPO as early as September 2024, with a potential market value of at least €800m.

Arm, SoftBank's semiconductor unit, targets a potential record-breaking September IPO with a valuation of up to $80 billion. Meanwhile, Dubai’s Roads & Transport Authority (RTA) is set to enter the IPO market with its taxi and parking divisions. Germany's Oldenburgische Landesbank (OLB) has signalled readiness for a potential IPO after reporting a half-yearly profit of over €100 million. South Korean steelmaker Nexteel plans an IPO to bolster competitiveness, aiming to raise up to 87.5 billion won. Finally, Spain's industrial group Bergé is exploring an IPO for its car unit Astara, potentially valued at €2 billion.

German footwear brand Birkenstock is planning an $8 billion IPO, backed by private equity firm L Catterton and LVMH. Biopharmaceutical firm Adlai Nortye has filed for a $115 million US IPO as it works on developing its oncology drug. Uber has reported an unexpected Q2 net income of $394 million, despite revenue being slightly below expectations. Spanish electric vehicle maker QEV Technologies is planning an Amsterdam IPO via a SPAC merger. Lastly, the Hong Kong Exchanges & Clearing unit has eased rules on IPO candidates disclosing risks related to China.

Three US Micro-IPOs are set to debut: Fitell Corp, an Australian fitness equipment retailer, seeking $15M; Cheetah Net, a luxury car importer, aiming to raise $6.3M; and Pixie Dust Technologies, a Japanese tech firm looking to garner $19M. Meanwhile, Citigroup predicts continued robust Middle East IPO activity into 2024, with Dubai and Saudi Arabia as hotspots. SF Holding, China's largest express delivery firm, plans a $3B Hong Kong IPO in August. Lastly, South Korea's Huons Biopharma, a maker of Botox products, prepares for its IPO, aiming for a $785M valuation.

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.

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.

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 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.

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.

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.

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.