The IPOX® Update 9/27/23
Schott Pharma Sets IPO Price; Anticipates Continued Growth
German medical packaging manufacturer Schott Pharma has set its IPO price guidance at €27, within an initially projected range of €24.50 to €28.50. This pricing values the firm at approximately €4 billion, congruent with its targeted valuation of €3.7 to €4.3 billion. It's noteworthy to mention that the funds raised from this IPO will not flow directly to Schott Pharma but will be used by its parent company, glass specialist Schott, which expects to garner over €813 million from this initiative. Schott Pharma, renowned for its high-tech glass and plastic packaging including vials and syringes, reported an impressive revenue of €821 million in the preceding year. The company forecasts a 10% annual growth while maintaining an EBITDA margin around 30%. Read The IPOX® Watch for more information. (Source)
Wall Street Analysts Foresees a Flourishing IPO Market in 2024
In recent times, Wall Street analysts have expressed its optimism for a robust IPO market, especially with an anticipated acceleration in 2024. The month of September witnessed IPOs raising an astonishing $7.2 billion on US exchanges, accounting for 56% of global IPO funds for that period. Successful IPOs of the British chip designer Arm Holdings Plc and the US grocery delivery service Instacart have bolstered this confidence, despite recent declines in share price. Investment banking entity Rainmaker Securities projects a thriving IPO market for 2023, with an even more expansive growth in 2024. Concurrently, Europe has observed a surge in its IPO sector with German medical-glassware manufacturer Schott Pharma AG targeting a substantial €813 million raise. (Source)
Birkenstock Gears Up for US IPO with Possible $10 Billion Valuation
German footwear magnate Birkenstock is actively prepping for its US IPO roadshow scheduled for the coming week. The renowned footwear brand is contemplating a striking $10 billion valuation for its impending IPO, with the offering possibly taking place as early as October 11. This move comes subsequent to the acquisition of a $4 billion majority stake in Birkenstock by the private equity firm L Catterton and the Arnault family's investment entity. Furthermore, Birkenstock has chosen NYSE for its listing under the ticker symbol BIRK, with reputed financial giants like Goldman Sachs, JPMorgan, and Morgan Stanley acting as the key arrangers. (Source)
OQ Gas Networks SAOG’s IPO Receives Full Subscription in Oman
The gas pipeline firm OQ Gas Networks SAOG, a subsidiary of Omani state energy company OQ SAOC, reported full subscription for its IPO just a day post its launch. The company’s IPO could fetch an impressive 297 million rials ($771 million), potentially surpassing the prior record set by Oman Telecommunications at $748 million. This development is reflective of Oman’s ongoing privatization efforts, mirroring similar successful initiatives observed in Saudi Arabia and the UAE. Significant investors such as Fluxys Belgium SA, Saudi's Public Investment Fund, and Qatar Investment Authority have secured 30% as anchor buyers, indicating strong investor confidence in the venture. (Source)
Ritz-Carlton Yacht Collection Aims for IPO and Fleet Expansion
Reflecting a vision for expansion, Ritz-Carlton Yacht Collection's CEO has announced the company's interest in conducting an IPO and further augmenting its fleet. With plans set for inaugural sailings in 2025, the company intends to extend invitations exclusively due to soaring demand. Furthermore, considerations are underway to integrate at least two more Marriott luxury hotel brands to the fleet. The potential market for luxury hotel-like yacht trips is assessed to be around $5 billion, and the industry currently grapples with an inadequate ship supply to meet the burgeoning demand. Ritz-Carlton Yacht Collection accentuates its early market entry as a significant advantage in this niche sector. (Source)
Alibaba Engages Ampere Partners for Cainiao’s Logistics Unit IPO
The e-commerce titan Alibaba has enlisted the expertise of boutique firm Ampere Partners for advisory services related to its logistics unit's IPO, Cainiao Smart Logistics Network. This move holds significance, given Ampere’s recent collaboration with JD Logistics and SF Express for their IPO ventures. Cainiao’s IPO, anticipated to materialize in Hong Kong, can potentially value the firm at approximately $100 billion, marking it as one of the most lucrative listings in the city. Alibaba’s strategic alignment with Ampere demonstrates its intent to tap into a broader investor base and reinforces the magnitude of the impending IPO. (Source)
