The IPOX^® Update archive

Aug2023

16 August 2023

The IPOX^® Update 8/16/23

VinFast, a Vietnamese EV automaker, saw a 255% debut surge on Nasdaq, pushing its market cap past GM and Mercedes-Benz. Chairman Pham's net worth surged to $44.3 billion. Meanwhile, Hong Kong Exchange expects a bright IPO future after a 30% dividend hike. Their half-yearly revenue hit HKD10.58 billion. Rob McEwen ponders an IPO for his Argentina copper venture with a potential offer size of $100-$150 million. Lastly, two Chinese firms plan to raise $1 billion via GDR share sales in Zurich, amid a slowdown in Chinese issuances, signaling a potential Zurich GDR market revival.

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Aug2023

15 August 2023

The IPOX^® Update 8/15/23

YouGov, a UK-based pollster, is considering a U.S. stock listing and has appointed former Meta executive, Steve Hatch, as CEO. Australian marketing software firm, Rokt, aims for a 2024 Nasdaq listing valued at $2.4 billion amidst legal controversies, including allegations of drug use and harassment. CVC Capital Partners is exploring an Amsterdam stock market listing, potentially by end of 2023, after postponing its 2022 plans due to the Russia-Ukraine conflict. Vietnamese EV manufacturer VinFast lists on Nasdaq after merging with Black Spade Acquisition, aiming to compete with brands like Tesla.

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Aug2023

11 August 2023

The IPOX^® Update 8/11/23

Germany's IPO sector is witnessing a surge, with listings potentially exceeding €20 billion. Notable IPOs include those from DKV Mobility, Douglas, and Porsche. Olam Agri has delayed its IPO following a 90% profit decline, largely due to poor Australian almond yields. Dutch solar mounting company Esdec is targeting a New York IPO with a projected valuation of $5 billion. Vietnam's electric vehicle maker, VinFast, plans to list in the U.S. through a SPAC merger. Despite recent slowdowns, the biotech IPO market is anticipated to rebound. Biogen's acquisition of Reata Pharmaceuticals highlights the potential synergy between biotech IPOs and pharma M&As.

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Aug2023

10 August 2023

The IPOX^® Update 8/10/23

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.

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Aug2023

9 August 2023

The IPOX^® Update 8/9/23

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.

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Aug2023

8 August 2023

The IPOX^® Update 8/8/23

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.

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Aug2023

4 August 2023

The IPOX^® Update 8/4/23

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.

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Aug2023

2 August 2023

The IPOX^® Update 8/2/23

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.

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Aug2023

1 August 2023

The IPOX^® Update 8/1/23

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.

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