The IPOX® Update 11/17/23
Investcorp Capital's IPO in Abu Dhabi closed at its offering price, contrasting with WuXi XDC's 36% surge in Hong Kong and Ecopro Materials' 58% increase in Seoul. Meanwhile, DayDayCook set its NYSE American IPO price at $8.50, adjusting from a higher range, and Li Auto Inc. is poised to join Hong Kong's Hang Seng Index.
The IPOX® Update 11/16/23
Alibaba halted its Alicloud spinoff due to US chip restrictions, affecting its stock. Siemens considers an IPO for its Innomotics unit, valued at €3 billion. SpaceX's Starlink is advancing towards a late 2024 IPO, with growing subscribers. Sanofi is discussing a potential IPO for its consumer health division, over $20 billion. Renault's Ampere unit eyes a 2024 IPO, targeting €10 billion revenue by 2025.
The IPOX® Update 11/15/23
Renault is realigning for EV expansion through a potential Ampere IPO, Morocco's Neo Motors aims for a Casablanca Stock Exchange debut, and China's iMotion targets a Hong Kong IPO for autonomous tech development. Meanwhile, South Korea's KOSPI faces its weakest IPO year in five years, and the US IPO market risks further disruption from a looming government shutdown impacting SEC operations.
The IPOX® Update 11/14/23
Hebei Gellec, backed by BYD, plans a 2024 Hong Kong IPO, potentially valuing it at $2 billion. Bain Capital is considering selling or IPO-ing Varsity Brands, valued over $6 billion. Glencore acquired a 77% stake in Teck Resources' coal business for $6.93 billion, with plans to list the combined coal operations on the NYSE. These moves reflect significant activities in IPOs and acquisitions in varied industries, from battery technology to academic apparel and mining.
The IPOX® Update 11/13/23
IPOs present buyer’s market amid tough valuations, especially for US tech, with many firms like Klaviyo and Instacart underperforming. Klarna is shifting towards profitability, eyeing an IPO. Renault's EV unit, Ampere, might spin off instead of an IPO. Dubai Taxi Company is preparing for a public offering amid market volatility. UL Solutions Inc. is planning a NYSE listing, demonstrating some optimism in the challenging IPO landscape of 2023.
The IPOX® Update 11/11/23
Zeekr Intelligent Technology Holding Ltd. has filed for a U.S. IPO, aiming to raise up to $1 billion. Latin American REIT Fibra Next plans a Mexican IPO post-Thanksgiving, targeting $1 billion. LSEG CEO predicts a rebound in IPO activity. Investcorp Capital prices its Abu Dhabi IPO at the top range, raising $451 million. Syngenta Group's delayed Shanghai IPO reflects a downturn in the Asian IPO market.
The IPOX® Update 11/9/23
Several firms are positioning themselves in the public market, with Geely's Zeekr planning a New York IPO, possibly raising over $1 billion. Fortegra eyes a NYSE listing to tap into the specialty insurance growth. Investcorp Capital boosts its Abu Dhabi IPO with heavyweight backing, aiming to raise $451 million. Syngenta delays its $9 billion IPO due to market volatility, while Rakuten Securities postpones its offering as Mizuho boosts its stake.
The IPOX® Update 11/8/23
Cuscal has delayed its A$514 million IPO, while Oldenburgische Landesbank considers listing amidst profit growth. Klarna navigates regulatory challenges before its UK IPO, Euronext rejects a joint venture with Deutsche Börse for IPO support, and Circle eyes a 2024 IPO as stablecoin interest grows, highlighting the varied responses to current market conditions.
The IPOX® Update 11/7/23
Shein eyes a $90 billion U.S. IPO valuation, Ecopro Materials adjusts IPO terms, EV firm GoZero is seeking funds pre-IPO, Bergé potentially delays Astara's IPO, CARGO Therapeutics aims for a $300 million Nasdaq listing, WuXi XDC targets a $520 million Hong Kong IPO, Hilton Grand Vacations confirms $1.5 billion acquisition of Bluegreen Vacations.
The IPOX® Update 11/6/23
Amidst South Korea's short-selling ban, the IPOX® International Index, including stocks like LG Energy and Ecopro BM, saw substantial gains, though analysts advise caution. Meanwhile, Swedish BNPL firm Klarna is transitioning to a UK holding company, hinting at a $15 billion IPO, possibly in New York. Indian e-commerce startup Udaan is prepping for a 2025 IPO, aiming for operational profit and considering global listing locations.
The IPOX® Update 11/3/23
U.S. gene therapy firm Lexeo Therapeutics prices its $100m IPO to advance R&D, despite a net loss in H1 2023. Chinese electric truck maker Windrose Technology plans a U.S. IPO in 2024, targeting a $200m raise and is currently undergoing pre-IPO fundraising. South Korean battery material producer Ecopro Materials adjusts its IPO pricing due to the European EV market slowdown. SpaceX's Starlink's breakeven cash flow triggers IPO speculations, with Elon Musk linking its IPO prospects to profitability.
The IPOX® Update 11/2/23
Investcorp Capital targets a $403M Abu Dhabi IPO, while CVC Capital Partners postpones its IPO due to market uncertainties. Hamilton Insurance Group aims for a $270M US IPO, valuing at $2B. India sets a record with 184 IPOs in 2023, although it sees a 15% YoY drop in proceeds. Spinneys Dubai mulls a potential IPO. DoorDash, Palantir, Lottomatica Group, and Airtel Africa post positive Q3 earnings, while Confluent's stock declines after revising sales projections.
The IPOX® Update 11/1/23
SAL Saudi Logistics shares rose by 28% in its Riyadh market debut. Waystar postponed its IPO due to U.S. market instability, while Renault reconsiders its EV business IPO amidst competition. India is allowing domestic companies to list abroad, with emphasis on GIFT City. Saudi firm Tabby achieved a $1.5 billion valuation. The UK IPO market faces downturns, with firms seeking US listings.
The IPOX® Update 10/31/23
Several companies globally are eyeing IPOs and strategic mergers, with Western Digital splitting its flash memory and hard drive units, Tory Burch potentially considering an IPO, and Mamaearth raising $92M ahead of its $200M IPO, among others.
The IPOX® Update 10/30/23
Dubai Taxi Corp. seeks $300M from its IPO as part of Dubai's privatization drive. Japanese battery-maker AESC, after a $1B funding round, considers a US IPO. Apex Fintech mulls a traditional IPO after a SPAC withdrawal in 2021. China's Shenzhen Shouhui Technology and noodle chain Maliuji are both evaluating Hong Kong IPOs. New York's Lexeo Therapeutics plans a 9M shares IPO, aiming at genetic medicine advancements.
The IPOX® Update 10/27/23
Sanofi plans to spin out its consumer health unit by 2024, focusing on R&D. Chinese rural lender Chongho Bridge considers a $500m Hong Kong IPO. Bentley Innomed attracts major investors, eyes a 2024 IPO. SCG Decor targets Thailand's leading 2023 IPO, aiming for 6.59 billion baht.