Our weekly summary of news and developments across global IPO markets.
248 editions
Amidst South Korea's short-selling ban, the IPOX® International Index, including stocks like LG Energy and Ecopro BM, saw substantial gains, though analysts advise caution. Meanwhile, Swedish BNPL firm Klarna is transitioning to a UK holding company, hinting at a $15 billion IPO, possibly in New York. Indian e-commerce startup Udaan is prepping for a 2025 IPO, aiming for operational profit and considering global listing locations.
Read editionU.S. gene therapy firm Lexeo Therapeutics prices its $100m IPO to advance R&D, despite a net loss in H1 2023. Chinese electric truck maker Windrose Technology plans a U.S. IPO in 2024, targeting a $200m raise and is currently undergoing pre-IPO fundraising. South Korean battery material producer Ecopro Materials adjusts its IPO pricing due to the European EV market slowdown. SpaceX's Starlink's breakeven cash flow triggers IPO speculations, with Elon Musk linking its IPO prospects to profitability.
Read editionInvestcorp Capital targets a $403M Abu Dhabi IPO, while CVC Capital Partners postpones its IPO due to market uncertainties. Hamilton Insurance Group aims for a $270M US IPO, valuing at $2B. India sets a record with 184 IPOs in 2023, although it sees a 15% YoY drop in proceeds. Spinneys Dubai mulls a potential IPO. DoorDash, Palantir, Lottomatica Group, and Airtel Africa post positive Q3 earnings, while Confluent's stock declines after revising sales projections.
Read editionSAL Saudi Logistics shares rose by 28% in its Riyadh market debut. Waystar postponed its IPO due to U.S. market instability, while Renault reconsiders its EV business IPO amidst competition. India is allowing domestic companies to list abroad, with emphasis on GIFT City. Saudi firm Tabby achieved a $1.5 billion valuation. The UK IPO market faces downturns, with firms seeking US listings.
Read editionSeveral companies globally are eyeing IPOs and strategic mergers, with Western Digital splitting its flash memory and hard drive units, Tory Burch potentially considering an IPO, and Mamaearth raising $92M ahead of its $200M IPO, among others.
Read editionDubai Taxi Corp. seeks $300M from its IPO as part of Dubai's privatization drive. Japanese battery-maker AESC, after a $1B funding round, considers a US IPO. Apex Fintech mulls a traditional IPO after a SPAC withdrawal in 2021. China's Shenzhen Shouhui Technology and noodle chain Maliuji are both evaluating Hong Kong IPOs. New York's Lexeo Therapeutics plans a 9M shares IPO, aiming at genetic medicine advancements.
Read editionSanofi plans to spin out its consumer health unit by 2024, focusing on R&D. Chinese rural lender Chongho Bridge considers a $500m Hong Kong IPO. Bentley Innomed attracts major investors, eyes a 2024 IPO. SCG Decor targets Thailand's leading 2023 IPO, aiming for 6.59 billion baht.
Read editionChicago-based UL Solutions plans a $1 billion NYSE IPO, possibly valuing at over $5 billion, with JPMorgan and Goldman Sachs advising. Australian bank Cuscal Limited prepares for an IPO, aiming to raise up to $238.3 million USD, with a listing date on November 28. French firm Sodexo intends to list its Pluxee division on Euronext Paris in 2024, taking on €600 million of Sodexo's debt.
Read editionKokusai Electric celebrated a strong trading debut in Japan, with shares closing 27% above the offer price. Meanwhile, Russian messenger service Telegram, now UAE-based, eyes a potential 2025 IPO. Battery cell producer Northvolt leans towards a European IPO, possibly in Stockholm in 2024. Lastly, Korea's fashion platform, Musinsa, plans a 2024 IPO, aiming for a market capitalization of $2.3 billion.
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