The IPOX^® Update archive

Sep2023

4 September 2023

The IPOX^® Update 9/4/23

British firm Arm adjusts IPO expectations, targeting $5-7 billion on Nasdaq, amid revenue downturn and concerns over Chinese market exposure. Microsoft-backed Rubrik plans an IPO, potentially raising up to $700 million. Omani energy giant OQ SAOC plans a major IPO for its gas pipeline unit. Alibaba considers pre-IPO fundraising for its cloud division ahead of a Hong Kong listing. Australia's IPO market anticipates major listings, while South Korea sees a surge in pre-IPO activities. Novo Nordisk launches weight-loss drug Wegovy in the UK with limited supply.

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Sep2023

1 September 2023

The IPOX^® Update 9/1/23

Arm Holdings has set its IPO pricing date, aiming to raise $5-7 billion, valuing the company at $50-70 billion. SoftBank plans to retain over 90% of Arm. Due to a sluggish market, companies like Instacart and Arm are securing early backing from big investors. UK fintech Zilch is discussing its IPO with over 15 banks. Chinese EV maker Hozon Auto is planning a $1 billion Hong Kong IPO. Danish pharmaceutical company Novo Nordisk has become Europe's most valuable company, surpassing LVMH, fueled by the weight-loss drug market.

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Aug2023

31 August 2023

The IPOX^® Update 8/31/23

Goldman Sachs is leading upcoming IPOs including Arm, Instacart, Klaviyo, and Birkenstock to revive the dormant IPO market. Saudi auto rental firm Lumi could raise $290m in IPO, valuing it at up to 3.63 billion riyals. Swedish fintech Klarna is preparing for an IPO after achieving its first monthly profit in three years. Gene-editing firm Metagenomi is preparing for an IPO with JP Morgan. Egypt aims to attract $5 billion from IPOs by June 2024. South Korean EcoPro Materials' IPO review is expected to gain speed next month.

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Aug2023

29 August 2023

The IPOX^® Update 8/29/23

Marketing firm Klaviyo filed for a U.S. IPO, reporting $15M in net income on $321M revenue in 2023 first half. Oil and gas driller ADES Holding, backed by Saudi PIF, aims for a $1B Saudi IPO. China is slowing mainland IPOs to boost investor confidence amid declining growth, impacting fundraising. Australian childcare operator Nido initiated a $63.5M IPO with AustralianSuper's cornerstone bid. Philippine fast food giant Jollibee delayed the IPO of its Vietnam unit SuperFoods to improve operations first. Spanish football club FC Barcelona is moving its media unit Barça Media to the Netherlands before a planned Nasdaq SPAC IPO.

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Aug2023

24 August 2023

The IPOX^® Update 8/24/23

Waystar Technologies, backed by EQT AB and the Canada Pension Plan, confidentially filed for an IPO, potentially valuing the health care payment tech provider at $8 billion. Tencent-supported Vietnamese startup VNG, with its popular messaging app Zalo, filed for a Nasdaq IPO, aiming to raise $150 million and marking the first U.S. tech listing from Vietnam. In 2023, Istanbul surpassed major European cities in IPOs, with Borsa Istanbul recording 30 IPOs, totaling $1.9 billion, driven by a surge in retail share trading. Meanwhile, mortgage company Better has gone public via a SPAC merger with Aurora Acquisition Corp, valuing the firm at $14 billion despite significant losses.

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Aug2023

23 August 2023

The IPOX^® Update 8/23/23

Amid significant concerns over exposure to the China market, UK chipmaker Arm prepares for an IPO. Arm, under SoftBank ownership, saw a 16% dip in Q2 2023 Chinese sales. Meanwhile, the US sports IPOs underperformed in 2023, with a negative 43% return. South Korea's Doosan Robotics aims for the country's top IPO spot, while Chinese EV maker Zeekr targets a $1.36 billion US IPO, the most significant since Didi in 2021. Kuwaiti fragrance firm Gissah is moving to Saudi Arabia before its IPO, drawing investment from Jadwa Investment. Finally, Thai retail giant Big C plans a $1 billion dual listing in Hong Kong and Bangkok.

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Aug2023

22 August 2023

The IPOX^® Update 8/22/23

British semiconductor designer Arm, a SoftBank unit, has filed for a Nasdaq IPO potentially valuing it between $60 billion to $70 billion, influenced by its pivotal role in the global AI and smartphone sectors. However, its IPO documentation indicates significant concerns about geopolitical and economic risks associated with China, where they derive roughly 25% of their revenue. Surprisingly, Morgan Stanley will not be partaking in this high-profile IPO. Concurrently, Nigerian payment startup Flutterwave, valued at $3 billion, is pushing forward with its own IPO ambitions, undeterred by financial controversies, showcasing significant growth in its payment app usage.

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Aug2023

21 August 2023

The IPOX^® Update 8/21/23

British semiconductor firm Arm plans to announce its IPO details after SoftBank's acquisition, with valuations potentially hitting $70 billion. Meanwhile, Indonesia expects larger IPOs due to political stability, seeing a 120% annual growth in 2023, highlighting the mining and consumer sectors. In China, delivery giant SF Holding Co. considers a secondary listing in Hong Kong, partnering with major finance institutions. With a valuation of approximately $29.9 billion, SF's potential proceeds from the listing could reach up to $3 billion.

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Aug2023

18 August 2023

The IPOX^® Update 8/18/23

UK's Arm readies for 2023's most substantial IPO, targeting $60-70 billion. Instacart, once valued at $39 billion, aims for a US Nasdaq listing in September. Switzerland's Novartis unveils plans to spin-off Sandoz on the Swiss exchange, cementing its focus on core pharma. Despite a squeezed market, Australia's ASX remains hopeful for a robust IPO pipeline, buoyed by tech and data provision opportunities. China's luxury maternity brand, Saint Bella, seeks a 2024 Hong Kong IPO, backed by Tencent and China Life Insurance. Meanwhile, Taiwanese Jyong Biotech targets a $40 million Nasdaq IPO, spotlighting its plant-based urological treatments.

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