Our weekly summary of news and developments across global IPO markets.
249 editions
IPOX® CEO Josef Schuster analyzes the volatile IPO market, noting a 2023 rebound with 76 IPOs raising $15 billion. Private equity firms are reacquiring companies post-IPO slump, with notable buybacks in several sectors. Turkey's IPO market is surging, expecting 100 companies to list in 2024. Carmot Therapeutics, focusing on obesity and diabetes drugs, announced plans for an IPO to raise up to $100 million.
Read editionInvestcorp Capital's IPO in Abu Dhabi closed at its offering price, contrasting with WuXi XDC's 36% surge in Hong Kong and Ecopro Materials' 58% increase in Seoul. Meanwhile, DayDayCook set its NYSE American IPO price at $8.50, adjusting from a higher range, and Li Auto Inc. is poised to join Hong Kong's Hang Seng Index.
Read editionAlibaba halted its Alicloud spinoff due to US chip restrictions, affecting its stock. Siemens considers an IPO for its Innomotics unit, valued at €3 billion. SpaceX's Starlink is advancing towards a late 2024 IPO, with growing subscribers. Sanofi is discussing a potential IPO for its consumer health division, over $20 billion. Renault's Ampere unit eyes a 2024 IPO, targeting €10 billion revenue by 2025.
Read editionRenault is realigning for EV expansion through a potential Ampere IPO, Morocco's Neo Motors aims for a Casablanca Stock Exchange debut, and China's iMotion targets a Hong Kong IPO for autonomous tech development. Meanwhile, South Korea's KOSPI faces its weakest IPO year in five years, and the US IPO market risks further disruption from a looming government shutdown impacting SEC operations.
Read editionHebei Gellec, backed by BYD, plans a 2024 Hong Kong IPO, potentially valuing it at $2 billion. Bain Capital is considering selling or IPO-ing Varsity Brands, valued over $6 billion. Glencore acquired a 77% stake in Teck Resources' coal business for $6.93 billion, with plans to list the combined coal operations on the NYSE. These moves reflect significant activities in IPOs and acquisitions in varied industries, from battery technology to academic apparel and mining.
Read editionIPOs present buyer’s market amid tough valuations, especially for US tech, with many firms like Klaviyo and Instacart underperforming. Klarna is shifting towards profitability, eyeing an IPO. Renault's EV unit, Ampere, might spin off instead of an IPO. Dubai Taxi Company is preparing for a public offering amid market volatility. UL Solutions Inc. is planning a NYSE listing, demonstrating some optimism in the challenging IPO landscape of 2023.
Read editionZeekr Intelligent Technology Holding Ltd. has filed for a U.S. IPO, aiming to raise up to $1 billion. Latin American REIT Fibra Next plans a Mexican IPO post-Thanksgiving, targeting $1 billion. LSEG CEO predicts a rebound in IPO activity. Investcorp Capital prices its Abu Dhabi IPO at the top range, raising $451 million. Syngenta Group's delayed Shanghai IPO reflects a downturn in the Asian IPO market.
Read editionSeveral firms are positioning themselves in the public market, with Geely's Zeekr planning a New York IPO, possibly raising over $1 billion. Fortegra eyes a NYSE listing to tap into the specialty insurance growth. Investcorp Capital boosts its Abu Dhabi IPO with heavyweight backing, aiming to raise $451 million. Syngenta delays its $9 billion IPO due to market volatility, while Rakuten Securities postpones its offering as Mizuho boosts its stake.
Read editionCuscal has delayed its A$514 million IPO, while Oldenburgische Landesbank considers listing amidst profit growth. Klarna navigates regulatory challenges before its UK IPO, Euronext rejects a joint venture with Deutsche Börse for IPO support, and Circle eyes a 2024 IPO as stablecoin interest grows, highlighting the varied responses to current market conditions.
Read edition