The IPOX® Update 6/13/2026

U.S.

SpaceX’s Nasdaq Debut and $75B Raise Highlight Mega-IPO Absorption Risks

SpaceX was discussed as a major U.S. listing on Nasdaq, with IPOX® Founder Josef Schuster commenting that its strong post-listing performance reflected robust demand and the depth of U.S. capital markets. IPOX® Associate Lukas Muehlbauer also discussed market absorption risks around the $75 billion raise and other large AI-related listings, noting that later insider sales may become the more important liquidity test after the IPO. Jay Ritter cautioned that SpaceX’s high price-to-sales ratio and speculative growth areas could create downside risk, while Schuster noted that fundamentals may become more important after earnings reports. (Source 1) (Source 2)

SK Hynix Eyes U.S. Listing That Could Raise Up to $14B

SK Hynix, the South Korean memory-chip maker, is reportedly targeting a U.S. listing as soon as August, subject to SEC approval. The listing could raise up to $14 billion and would expand the company’s investor base amid strong demand linked to the AI semiconductor boom. Sources indicated SEC approval could come in the week of June 22, with the company’s market value having surged amid strong share-price gains. (Source)

OpenAI Files Confidentially for U.S. IPO at Potential $1T+ Valuation

OpenAI has reportedly confidentially filed for a U.S. IPO, creating a potential race with Anthropic and targeting a valuation above $1 trillion after a recent funding round valued it at $852 billion. Underwriters may include Morgan Stanley and Goldman Sachs, although formal appointments have not been made, and the timing remains uncertain depending on private funding availability. IPOX® CEO Josef Schuster commented that OpenAI, SpaceX, and Anthropic are seeking public-market capital to fund significant growth, while investors may reward or punish these companies as fundamentals develop. (Source 1) (Source 2)

Bending Spoons Files for Nasdaq IPO to Raise About $1.5B

Bending Spoons, the Italian software rollup company, has filed for a U.S. IPO on Nasdaq aiming to raise approximately $1.5 billion. The company, founded in 2013, has completed more than 50 acquisitions, including assets from AOL, Eventbrite, Evernote, and Vimeo, and uses AI for a significant portion of its coding work. Goldman Sachs, JPMorgan, and Allen & Co are among the underwriters in a 14-bank syndicate, with proceeds expected to support its software acquisition strategy. (Source)

Kakao Mobility Files Confidentially for U.S. IPO to Raise About $1B

Kakao Mobility, the South Korean taxi-hailing and mobility platform owned by Kakao Corporation, has confidentially filed for a U.S. IPO aiming to raise about $1 billion. The company operates a taxi-hailing app with more than 30 million users and is pursuing a U.S. listing as South Korea prepares to implement a ban on subsidiary listings. Bank of America, Morgan Stanley, and UBS are listed as underwriters, following an earlier failed South Korean listing attempt in 2022 amid regulatory scrutiny. (Source)

ERock’s NYSE Debut Values Gas Generator Maker at $5.49B After Weak Open

ERock, a gas generator maker, debuted on the NYSE with shares opening below their IPO price, giving the company a valuation of $5.49 billion. IPOX® Associate Dr. Lukas Muehlbauer said investors were pushing back on valuation due to execution risk, despite the company’s growth angle being tied to a substantial backlog from data center power demand. He noted that the market wants evidence that the backlog can convert into revenue before assigning ERock a more premium public-market valuation. (Source)

Parabilis Medicines Prices Upsized U.S. IPO at Nearly $2.3B Valuation

Parabilis Medicines went public in an upsized U.S. IPO at a valuation of nearly $2.3 billion, reflecting renewed momentum in biotech listings. IPOX® Associate Lukas Muehlbauer said the larger offering points to a healthier biotech IPO pipeline, although investors remain selective and favor larger, better-backed deals. He also highlighted Parabilis’ partnership with Regeneron as external validation of the company’s technology and a credibility boost ahead of its expected Nasdaq debut under ticker PBLS. (Source)

Kardigan Targets Up to $373.3M in U.S. IPO as Biotech Window Reopens

Kardigan, a biotech company, is planning a U.S. IPO that could raise as much as $373.3 million and value the company at up to $1.4 billion. IPOX® Associate Lukas Muehlbauer said there is a clear uptick in biotech IPOs, with healthcare IPO activity already surpassing last year’s deal flow and suggesting an open window for the sector. He cautioned, however, that investors remain selective and continue to favor companies with clinical progress and clearer paths to FDA approval. (Source)

Perplexity Plans 2028 IPO Regardless of OpenAI and Anthropic Listings

Perplexity plans to pursue an IPO in 2028, with CEO Aravind Srinivas saying the company remains focused on its own timeline regardless of how OpenAI or Anthropic perform in public markets. Srinivas acknowledged that failed AI IPOs elsewhere could have ripple effects, while also pointing to SpaceX’s listing as a potential leading indicator for investor appetite. The company said maintaining the 2028 target has helped it build a healthier, high-growth business without near-term IPO pressure. (Source)

Asia-Pacific

Dreame Tech Weighs Hong Kong IPO That Could Raise Several Hundred Million Dollars

Dreame Technology, a Chinese maker of robotic vacuum cleaners and smart home appliances, is reportedly considering a Hong Kong IPO as soon as 2027. The company is working with advisers and could raise several hundred million dollars in a potential share sale, although the size and timing may still change. Dreame had also previously considered a U.S. IPO, according to earlier reporting. (Source)

EngineAI Files Confidentially for Hong Kong IPO After $200M Funding Round

EngineAI, a Shenzhen-based humanoid robot manufacturer, has reportedly filed confidentially for a Hong Kong IPO. The company is working with China International Capital Corp. and Citic Securities on the potential share sale, though no IPO size, valuation, or timing details were disclosed. EngineAI raised $200 million in a Series B round in April, lifting its valuation above 10 billion yuan. (Source)

Zhongke WengeAI Premarkets Hong Kong IPO to Raise About $120M

Beijing Zhongke WengeAI, a data analytics and AI-assisted decision-making company, has received HKEX listing approval and started premarketing for a Hong Kong IPO. The listing could raise about $120 million, with CICC serving as sponsor. The company reported a wider net loss of Rmb166 million in 2025, while revenue increased 27.5%. (Source)

Keytop Parking Receives Hong Kong IPO Approval for About $100M Listing

Keytop Parking, a provider of AI-based ticketless parking systems and guidance services, has received Hong Kong Stock Exchange approval for an IPO that could raise approximately $100 million. The company reported 2025 net profit of Rmb93.7 million on revenue of Rmb831 million. CICC and CMBC International are sponsors, with proceeds expected to support technology development and business expansion. (Source)

Core Lithium Plans Axiant Resources Spin-Off via ASX IPO

Core Lithium plans to spin off its Northern Territory and South Australian gold exploration assets into Axiant Resources, which is expected to pursue an ASX IPO. The prospectus is expected to be lodged with ASIC in Q3 2026, with the IPO anticipated around July or August 2026 to fund gold and metals exploration. Core Lithium will retain a significant shareholding in Axiant, while Greg English will step down as Core Lithium chairman to lead the new company. (Source)

MENA

Arabian Dyar Shelves Tadawul IPO Plans as Ninja Tests Appetite for Possible $1B Listing

Arabian Dyar, a Saudi real estate company, has shelved its Tadawul IPO plans for now amid weak market sentiment, after previously targeting a valuation of about SAR 16 billion. The same market backdrop is being watched as Ninja tests investor appetite for a potential $1 billion IPO, with Citigroup, Goldman Sachs, Riyad Capital, and UBS advising the startup. Recent regional IPO performance has been mixed, reinforcing caution among issuers and investors. (Source)

Mutlaq Al-Ghowairi Withdraws Planned $800M Saudi IPO

Mutlaq Al-Ghowairi Contracting Company withdrew its planned Riyadh IPO after adviser consultations, although it remains committed to expansion and may reconsider a listing in the future. The offering could have raised up to $800 million, with shareholders planning to sell 240 million existing shares, equal to a 30% stake, at 12.5 riyals per share. Al Rajhi Capital and Morgan Stanley were joint financial advisers, while the withdrawal came as MENA equity issuance slowed sharply. (Source)

Disclaimer: News summaries may contain mistakes. The information does not constitute financial advice, endorsement or recommendation and should not be considered as such.