The IPOX^® Update archive

Jul2023

31 July 2023

The IPOX^® Update 7/31/23

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.

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Jul2023

28 July 2023

The IPOX^® Update 7/28/23

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.

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Jul2023

27 July 2023

The IPOX^® Update 7/27/23

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.

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Jul2023

26 July 2023

The IPOX^® Update 7/26/23

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.

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Jul2023

25 July 2023

The IPOX^® Update 7/25/23

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.

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Jul2023

24 July 2023

The IPOX^® Update 7/24/23

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.

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Jul2023

20 July 2023

The IPOX^® Update 7/20/23

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.

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Jul2023

19 July 2023

The IPOX^® Update 7/19/23

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.

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Jul2023

18 July 2023

The IPOX^® Update 7/18/23

Biotech firm Turnstone Biologics is launching a $75.4M IPO with backing from Takeda. Pharma giant Novartis has upgraded its forecast and is preparing an IPO for its generic-drugs unit Sandoz. Chinese AI chip startup Shanghai Biren is contemplating a Hong Kong IPO as an alternative to banned Nvidia chips. The Australian tech IPO market is forecasted to rebound, led by hopefuls like Brennan IT and CurveBeam AI. SK Pharmteco is seeking a $500M pre-IPO deal, planning for an IPO in 2025. Meanwhile, Finnish EV charger maker Kempower's stock has surged following an upgraded full-year outlook.

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