The IPOX® Update 9/14/23

Arm's Monumental $4.87 Billion IPO Oversubscribed Tenfold

SoftBank-backed UK chip designer Arm marked a grand entry with a $4.87 billion IPO, rendering it the most substantial public offering of the year. Setting the price at $51 per share, the firm achieved a valuation of $54.5 billion for its listing on the New York stock exchange. This strong debut underscores the growing importance of artificial intelligence, reminiscent of Nvidia's enormous market cap. Major tech giants like Intel, Apple, and Nvidia are among the noteworthy investors. However, SoftBank has retained a larger portion of Arm, offering just 10% for the public float. This spectacular listing eclipsed 2021's Rivian's $13.7 billion offering. (Source)

Birkenstock Ventures Into NYSE with IPO Filing

German sandal-maker Birkenstock has initiated the process to go public on the New York Stock Exchange. Following its acquisition by the private equity firm L Catterton, the company expanded its brand footprint and collaborated with luxury designers. This IPO could catapult Birkenstock's valuation to an impressive $8 billion. The company reported a net profit of $43 million for H1 2023, although it was a slight dip from the previous year. With a rich history spanning 250 years, the brand has witnessed substantial growth, increasing its sales from €292 million in 2014 to €1.24 billion in 2022. (Source)

ADES Holding's Saudi IPO Set to Raise a Staggering $1.2 Billion

ADES Holding, an oil and gas drilling entity, aims for a prominent Saudi IPO, intending to generate $1.2 billion. The forthcoming listing, slated to be the largest in Saudi Arabia this year, is priced at 13.50 riyals/share. A successful subscription might stimulate secondary share offerings in Saudi Aramco. Post privatization in 2021, ADES expanded its operations across the Middle East and North Africa, with Saudi Aramco emerging as its primary client. Renowned financial advisories such as EFG Hermes, Goldman Sachs, JPMorgan Chase & Co., and SNB Capital are steering this monumental IPO. (Source)

CNGR Advanced Material Contemplates IPO for its Indonesian Assets

Chinese battery metals producer CNGR Advanced Material is contemplating a potential IPO of its Indonesian assets. The prospective Jakarta IPO might amass between $300 million to $500 million, contingent on prevailing market conditions. This comes in light of a deal that electric carmaker Tesla secured with CNGR, positioning the company as a pivotal player in the EV battery supply chain. Indonesia's abundant nickel reserves have made it a sought-after destination for IPOs, underscoring its stature as a primary EV battery materials provider. (Source)

Douglas Gears Up for Its IPO with Prominent Banking Consortium

German cosmetics conglomerate Douglas is accelerating its IPO preparations. A consortium of distinguished banks, including Goldman Sachs, Citigroup, Unicredit, Deutsche Bank, and UBS, has been chosen to guide the offering. The potential valuation for Douglas might soar to a remarkable 7 billion Euros. Currently, financial investor CVC holds the reins of the retailer, which boasts over 1,800 branches across Europe. (Source)