The IPOX® Update 7/13/23
Brazil's JBS Plans US Share Listing by End of 2023
The world's largest meatpacker, JBS, a Brazil-based company, has revealed plans to list shares on both the São Paulo Stock Exchange and the New York Stock Exchange. This strategic move will be executed through a Netherlands-based parent company. JBS's North American beef and US pork businesses, alongside its stake in Pilgrim's Pride, were the main contributors to the company's $77 billion revenue in 2022. This decision to list shares comes after years of speculation about a potential US IPO. Furthermore, the company intends to discuss the declaration of dividends totaling 2.2 billion reais. (Source)
Restaurant Brands Iberia Prepares for Madrid Stock Exchange IPO in 2024
A unit of Restaurant Brands International, Restaurant Brands Iberia, which owns the Spanish and Portuguese franchises of fast-food giants Burger King and Popeyes, is planning an Initial Public Offering (IPO) on the Madrid Stock Exchange in 2024. This move is expected to bring about a €2.4 billion valuation for the company. The IPO roadmap has been set, but as of now, no advisors have been hired for the process. The IPO plans were confirmed by RBI Chairman Gregorio Jimenez. (Source)
Wisekey International to Launch IPOs for Three Unlisted Units
Wisekey International, a Swiss cybersecurity and IT group, has announced its plans to become a holding company for recently listed SEALSQ unit and other subsidiaries. It aims to launch IPOs for its unlisted subsidiaries, namely WISeKey, WISeSat, and WISe.ART once they mature. The company is currently restructuring to enable each subsidiary to operate independently while leveraging the resources of the holding company. Wisekey International's stock gained nearly 4% at the close of trading on Wednesday. (Source)
Liquid Death Enlists Goldman Sachs for Possible 2024 IPO
Liquid Death, a company known for its canned water products, has hired Goldman Sachs to assist in a potential IPO set to take place as early as the spring of 2024. The company was valued at $700 million in the last year's funding round, and it raised $70 million in the most recent financing round, which was led by Science Ventures. Liquid Death's revenue saw a substantial increase from $45 million in 2021 to a projected $130 million in 2022 and is on track to double in 2023. (Source)
Lemon Sky Studios Eyeing IPO by End of 2023 or 2024
Malaysian art and animation studio, Lemon Sky Studios, has announced plans for an IPO, potentially by the end of 2023 or 2024. The studio, which has been involved in high-profile video games like "Final Fantasy XVI," "Spider-Man," "The Last of Us Part I and II," and "Street Fighter 6," plans to list on the local stock exchange. The potential size of the IPO and the current valuation of Lemon Sky are yet to be confirmed. (Source)
Healthy Green Group Sets Terms for $13 Million US IPO
Hong Kong-based grocery chain Healthy Green Group, which operates organic food stores under the Greendotdot brand, has set the terms for its $13 million US IPO. The company, founded in 1999, recorded $21 million in sales for the year ending December 31, 2022. If the proposed range midpoint is accepted, the company would command a $74 million market value. The company is set to list on the NYSE American under the symbol GDD, with EF Hutton serving as the sole bookrunner. (Source)
