Upcoming Global IPOs
SHEIN Global Holdings Ltd (Ticker: 625 HK) is a Chinese global online fast-fashion and lifestyle retailer selling a broad range of affordable, trend-driven clothing, accessories, beauty and lifestyle products, supported by a data-driven, on-demand supply chain designed to rapidly introduce new styles. The company served approximately 273 million active customers across around 160 markets in 2025. Founded in China and headquartered in Singapore, SHEIN plans to list on the Hong Kong Stock Exchange on September 1, 2026.
According to published terms, SHEIN plans to offer approximately 280 million Class B shares at HKD47.60-HKD49.50 per share, raising up to approximately HKD13.86 billion ($1.77 billion). At the top of the range, the IPO would value the company at around $26.8 billion. The offering consists entirely of primary shares and includes a 15% greenshoe option of approximately 42 million shares. Goldman Sachs, Morgan Stanley and JPMorgan are among the banks backing the offering.
The IPOX® Newsletters
IPOX® in the News
IPOX® Associate Lukas Muehlbauer was featured in Bloomberg’s Mideast Money newsletter, providing context on Abu Dhabi’s recent moves to take strategic companies private. He highlighted how similar transactions in other markets have often reflected governments’ desire for greater control over important assets, whether to support long-term investment or restructuring. His comments helped frame the AD Ports and TAQA developments within a broader global pattern of state-led ownership consolidation and strategic market repositioning across public equity markets worldwide today and beyond.
German financial magazine FOCUS MONEY examines Oura’s planned IPO as the wearable technology company builds on strong growth and an expanding digital health platform. IPOX® Associate Lukas Muehlbauer comments on Oura’s positioning ahead of a potential listing, noting its evolution from a young wearable company into an established platform. He also highlights Oura’s focused product strategy versus larger technology groups, as the company targets further growth in the expanding global wearables market and recurring subscription-based customer revenue opportunities.
IPOX® CEO Josef Schuster commented on Lyntris’ New York debut after shares fell 11.4%, valuing the defense contractor at $1.78 billion. Schuster said the market was discounting the company’s capital structure rather than treating it like a venture capital deal. He also noted that higher U.S. bond yields were pushing investors away from riskier, less-seasoned companies, including recent IPOs, even as earnings remained strong. Lyntris priced its IPO below its marketed range and reduced the offering size to 17 million shares, raising $297.5 million.
Reuters reports that Londian Wason’s NYSE debut valued the Chinese copper foil maker at about $2.01 billion, marking the largest U.S. IPO by a Chinese company in more than a year. IPOX® Research Associate Lukas Muehlbauer cautioned that the strong first-day performance, supported by a very low float and potential scarcity premium, should not be viewed as proof of a broader reopening for larger Chinese IPOs. He also highlighted potential future supply risks and customer concentration concerns for longer-term investors.
IPOX® Associate Muehlbauer was quoted in Reuters on Londian Wason’s planned U.S. IPO, which targets a valuation of up to $1.7 billion and could become the largest New York listing by a Chinese company in more than a year. He said the relatively small offering would be encouraging rather than signal a definitive market reopening, while highlighting stronger growth, profitability, battery demand, and investor concerns over the company’s reliance on a limited number of major customers for future growth prospects.
The IPOX® Update
IPO activity accelerated across major markets, led by potentially record-sized U.S. offerings. Anthropic is preparing a public filing, while SB Energy targets at least $5 billion and General Atlantic revived listing plans. In Europe, Quantexa is weighing a London or U.S. IPO. Asia-Pacific activity includes a $1 billion Singapore data-center REIT and several Hong Kong technology listings. In Africa, Dangote Refinery advanced plans for a potential $5 billion Nigerian IPO after securing a $1 billion underwriting programme from its advisers.
Global IPO activity is building across data centers, AI, semiconductors, robotics and consumer businesses. In the U.S., Vantage Data Centers is exploring a potential $10 billion IPO, while DayOne has confidentially filed for a $5 billion offering and Anthropic is meeting investors. Across Asia-Pacific, Moore Threads targets a major Hong Kong listing, alongside Vitalink, Mech-Mind and Kiwimoore. Malaysia’s ZUS Coffee and Japan’s Oliver are also advancing IPO plans, highlighting broader momentum across regional equity markets in 2026.
Global IPO activity is building across major markets, led by large planned offerings from Dangote Refinery, Moonshot AI, Nscale and Airtel Money. U.S. listings include Robinhood Ventures Fund II and Londian Wason, while Europe may see major transactions from KNDS and Kazakhstan’s KTZ. Hong Kong remains active with Moonshot AI and Sichuan Biokin, while Qatar’s Dandy advances its offering. Overall, the pipeline highlights strong investor interest in AI, infrastructure, financial services, industrials, biotechnology and energy-related issuers worldwide.