The IPOX® Update 9/28/23

IPOX® SPAC Index set to finish Q3 ahead of major benchmarks

The IPOX® SPAC Index (Ticker: SPAC) has exhibited a standout performance towards the end of this quarter, notably outpacing both the S&P 500 and the Nasdaq 100. This robust display underscores a growing inclination among investors to explore alternative growth avenues. The surge in the SPAC Index's performance serves as a testament to the viability of SPACs as an alternative to traditional IPOs. As Q3 draws to a close, the SPAC Index is poised to wrap up the quarter ahead of its two major benchmark counterparts, highlighting its resilience and attractiveness in a dynamic market landscape.

Schott Pharma AG Stages Largest 2023 IPO in Germany

German specialty-glass product manufacturer Schott Pharma AG has celebrated a successful IPO as the shares surged 16.6% on their debut in Frankfurt. With this move, the firm managed to raise a whopping €813 million ($854 million). The impressive performance is attributed to the increased demand for Covid-19 vaccines and obesity medicines, significantly boosting Schott's sales of pre-filled syringes and anti-counterfeit vials. Reflecting on their thriving business, Schott recorded a 27% increase in revenue during the last fiscal year and produced approximately 13 billion medical storage items. Qatar Investment Authority invested heavily, acquiring €200 million of Schott Pharma shares as a cornerstone investor. (Source)

Londian Wason Energy Tech Plans U.S. IPO

Shenzhen-based Chinese EV battery parts manufacturer, Londian Wason Energy Tech, has unveiled plans to launch an IPO in the U.S. Financial powerhouses Citigroup and Goldman Sachs are assisting with the preparations for the listing. Londian aims to raise an ambitious $500 million through the IPO and a pre-IPO funding round, with potential plans set for the following year. The company, known for supplying prominent EV battery makers like Contemporary Amperex Technology and BYD, has caught the attention of various stakeholders. Existing shareholder, SK Inc, which holds a 30% stake, is contemplating selling a $1.1 billion stake for fiscal reinforcement. However, details surrounding the IPO, including its size and timing, are still under wraps, awaiting official confirmations. (Source)

IPOX® 100 Europe Index Sees New Entrants

Noteworthy changes have occurred within the IPOX® 100 Europe Index (ETF: FPXE) as two major corporations have made entries. Recently launched Mega IPO of British processor-maker Arm (ARM US) replaced German biotechnology firm BioNTech, while newly spun off Austrian telecommunication tower entity Eurotelesites (ETS AV) has replaced Italian natural gas distributor Italgas.