IPOs - All Articles

  • Concern grows about overheated Spac IPOs

    A staggering amount of capital has been raised by special purpose acquisition companies this year, but there is growing concern that the glut in supply will lead to many of the vehicles overpaying for M&A targets or being unable to find companies to buy.

    • 31 Mar 2021
  • Pipeline in peril as Deliveroo disaster wrecks market for IPO hopefuls

    The IPO market looked on in despair on Wednesday as Deliveroo, the UK food delivery company, began trading. The stock fell more than 20% in early trading and shell-shocked bankers fear that IPOs planned for after Easter may have to be put on hold. Sam Kerr reports.

    • 31 Mar 2021
  • Hong Kong IPO market slows after breakneck start to the year

    Demand in Hong Kong’s IPO market is cooling after a scorching start to the year. This week combined secondary turbulence, disappointing debuts from three new listings and heavy selling of Chinese technology stocks. Investors are turning cautious, reports Jonathan Breen.

    • 31 Mar 2021
  • SK IE Technology sets $2bn IPO rolling

    South Korea’s SK IE Technology (SKIET) has begun work for its up to W2.29tr ($2.03bn) IPO, after getting preliminary approval to list from the Korea Exchange on Tuesday.

    • 31 Mar 2021
  • Inside the IPO: Fix Price CFO advises companies to start work early

    Fix Price, the Russian discount retailer, became a public company at the beginning of March in a $1.9bn IPO on the London Stock Exchange. Its CFO Anton Makhnev sat down with GlobalCapital to discuss the deal.

    • 30 Mar 2021
  • GV Gold postpones IPO after gold price falls

    GV Gold, the Russian gold miner, has postponed its listing on the Moscow Stock Exchange as a difficult IPO market and falling prices in the precious metal force the company to rethink its plans.

    • 30 Mar 2021
  • Green Tea restaurant group plans Hong Kong IPO

    Green Tea Group, a Chinese restaurant operator, is seeking approval to go public in Hong Kong.

    • 30 Mar 2021
  • Alibaba-backed Energy Monster sets $219m US IPO in motion

    China-based Energy Monster, a mobile device charging company, has kicked off the roadshow for its Nasdaq listing. It is eyeing up to $218.7m from the deal.

    • 30 Mar 2021
  • Deliveroo ‘listens’ to IPO investors and shrinks valuation

    Deliveroo, the UK food delivery company, has taken heed of investor fears of IPO congestion and has revised its the price range of its listing down to the bottom end of the range.

    • 30 Mar 2021
  • Segezha looks to green bond and possible IPO for funding

    Segezha Group, the Russian paper and pulp company, is exploring a number of capital markets options to help finance growth. These include a green bond and a potential IPO, Rovshan Aliyev, vice-president of finance, tells GlobalCapital.

    • 29 Mar 2021
  • ActiveOps rises in trading after £75.7m IPO

    Shares in ActiveOps, the Reading-based management software company, traded up more than 13% on Monday after the company made its debut on London’s alternative investment market (Aim).

    • 29 Mar 2021
  • Former Commerzbank chief lists €415m Spac

    Shares in European FinTech IPO Company 1, a new blank cheque firm focused on financial technology in Europe, fell in trading on Friday following the company’s €415m flotation on the Amsterdam Stock Exchange.

    • 26 Mar 2021
  • Digital infrastructure fund completes London IPO

    Digital 9 Infrastructure, an investment trust that invests in digital assets, has completed a London IPO raising £300m for investments. Its first acquisition will be in a company that owns transatlantic fibre-optic cables used by large internet companies.

    • 26 Mar 2021
  • Magnum Opus Spac bags $200m IPO

    Magnum Opus Acquisition, a special purpose acquisition company (Spac), has raised $200m from a New York Stock Exchange IPO.

    • 26 Mar 2021
  • Zhihu seals $522m listing at low end

    Chinese question-and-answer platform Zhihu has raised $522.5m from its US IPO, after pricing the deal at the bottom of the marketed range, according to a source familiar with the matter.

    • 26 Mar 2021
  • Tencent-backed Linklogis launches $1bn Hong Kong IPO

    Chinese firm Linklogis has thrown open the book for its Hong Kong IPO, aiming to pocket up to HK$8.28bn ($1.06bn).

    • 26 Mar 2021
  • Equity Capital Markets Awards 2020: A year like no other

    Last year GlobalCapital was forced to abandon our 2019 Equity Capital Markets Awards dinner because of the Covid-19 pandemic. Little did we know that what seemed like a brief crisis would transform all our lives in the way it has. But despite the huge pressure of the virus and its dramatic impact on stockmarkets, the equity capital markets rose to the challenge in 2020, enabling many companies to raise vital capital to mend broken balance sheets and even to complete IPOs, all without executives having to leaving their home countries — or even their homes. After an extraordinary year, GlobalCapital is pleased to recognise the truly outstanding achievements in ECM.

    • 26 Mar 2021
  • Europe's overstuffed IPO market riding for a fall

    Equity investors and bankers are increasingly fearful that the European IPO market is running far too hot, with over-cooked valuations blowing an asset bubble. Investors are already overworked and have little time to give the bulging pipeline of up to 100 more IPOs the proper scrutiny they need, reports Sam Kerr.

    • 25 Mar 2021
  • Siemens Healthineers raises €2.3bn for M&A financing

    Siemens Healthineers, the German healthcare tech company, has completed the second leg of equity financing to fund its acquisition of US cancer care solutions firm Varian. The involvement of a large anchor investor was revealed at the top of the book, which was quickly filled with long-only investors.

    • 25 Mar 2021
  • CTP, Friedrich Vorwerk stay afloat on day one

    Two large European IPOs reached successful conclusions on Thursday, albeit without the large aftermarket surges on deals earlier this year.

    • 25 Mar 2021
  • Chunky Indian IPOs on the way after hot start to 2021

    Indian companies have churned out listings rapidly, giving the country’s IPO market its busiest start to the year in more than a decade. The volume has so far been driven by small deals, but large transactions are now looming. Jonathan Breen reports.

    • 25 Mar 2021
  • GlobalCapital ECM Awards 2020: JDE Peet’s and Goldman win big

    GlobalCapital is pleased to reveal the winners and nominees of its 2020 Equity Capital Markets Awards.

    • 25 Mar 2021
  • New Nordic airline looks to IPO

    Out of the ashes of Norwegian Air Shuttle has risen a new low-cost Norwegian transatlantic carrier, Norse Atlantic. The airline is seeking to raise Nkr1.27bn ($149m) to pick up the transatlantic routes that its beleaguered predecessor has abandoned.

    • 24 Mar 2021
  • Jeneration eyes $300m for China-focused Spac

    Hong Kong-based Jeneration Acquisition Corp, a special purpose acquisition company (Spac), is planning to raise $300m from a Nasdaq IPO.

    • 24 Mar 2021
  • Turkey: a good ECM market hamstrung by bad politics

    As emerging market IPOs continue to draw investors into countries many have never invested before, Turkey remains an obvious absentee. The country could be an EM equity giant but political decisions by its government continue to hinder Turkish businesses.

    • 23 Mar 2021
  • PensionBee joins slew of UK tech listings

    PensionBee, the UK online pensions provider, is preparing to go public on the London Stock Exchange, according to a regulatory filing on Tuesday.

    • 23 Mar 2021
  • Trustpilot soars on LSE after pricing five star IPO

    Trustpilot, the Danish online review site, has rocketed in trading on its first day as a public company on the London Stock Exchange. Sources close to the trade were patting themselves on the back on Tuesday as they observed the day one performance and reflected on the calibre of the book.

    • 23 Mar 2021
  • Friedrich Vorwerk sets IPO offer price

    Germany's IPO renaissance is continuing with the flotation of Freidrich Vorwerk, the energy infrastructure construction company, which is due to price later today.

    • 23 Mar 2021
  • Updated: Bilibili bags $2.6bn from HK secondary listing

    Bilibili, a Chinese video sharing and gaming platform, has raised HK$20.2bn ($2.6bn) from its Hong Kong secondary listing, following a strong turnout from institutional investors.

    • 23 Mar 2021
  • No first-day IPO pop? No problem

    New Hong Kong-listed companies are increasingly seeing muted aftermarket trading, rather than sweeping gains on their debuts. However, this shouldn’t be mistaken for a dip in investor sentiment in the stock market. It's instead a sign of strength for the bourse.

    • 23 Mar 2021
  • Deliveroo covered fast on £1.7bn IPO

    Investors put orders in quickly on the first day of bookbuilding for UK food delivery unicorn Deliveroo. The books were covered throughout the initial price range on Monday, the day it opened books for its London flotation.

    • 22 Mar 2021
  • Trustpilot grows London IPO before books close

    Trustpilot, the online review site listing in London, has grown the size of its IPO to meet strong demand for the offering and to give deal-hungry investors a better chance of getting some shares in the listing.

    • 22 Mar 2021
  • Linklogis pre-markets $1bn Hong Kong IPO

    Linklogis has begun drumming up demand for its Hong Kong listing, after winning approval from the city’s stock exchange.

    • 22 Mar 2021
  • Chinese Q&A platform Zhihu launches $633m NYSE listing

    Zhihu has kicked off the roadshow for its US listing. The Chinese company is aiming to raise up to $632.5m from the public market, and a further $250m from a handful of high-profile investors through private placements concurrent to the IPO.

    • 22 Mar 2021
  • Record start for UK ECM in 2021 as optimism soars

    Vaccine optimism and the end of Brexit has meant that the UK has enjoyed its best ever start to a year in the equity capital markets.

    • 19 Mar 2021
  • Tuya, Connect Biopharma net $1.1bn from US IPOs

    Tuya's shares soared nearly 20% on their debut in the US on Thursday, after the internet-of-things cloud platform provider raised $915.4m by pricing its IPO above the marketed range.

    • 19 Mar 2021
  • Bairong covers $507m Hong Kong listing

    Bairong, a financial technology firm, has covered its HK$3.94bn ($507m) IPO, following strong demand from institutional investors on the first day of bookbuilding.

    • 19 Mar 2021
  • Big bid for green stocks as EU vaccine woes continue

    Europe’s slow rollout of Covid-19 vaccines is beginning to damage confidence in a quick economic rebound this year, leading some investors to step back from value trades in pandemic-exposed cyclical stocks and enter new positions in high-growth momentum trades, particularly renewable energy stocks.

    • 18 Mar 2021
  • Vantage Towers closes hot IPO but investors left hungry

    Investors were left disappointed when Vantage Towers, the telecoms towers division of Vodafone, closed its Frankfurt IPO on Thursday. Despite attracting huge demand, a tight allocation strategy left many equity funds with little or no shares.

    • 18 Mar 2021
  • Bilibili heats up HK’s secondary listing market with $3bn deal

    The Hong Kong Stock Exchange has had a stellar week, hosting two secondary listings worth about $6bn in total in quick succession. The latest out of the gate is Chinese video sharing and gaming platform Bilibili, which kicked off a potential $3bn float within hours of internet giant Baidu wrapping up its multi-billion-dollar deal. Jonathan Breen reports.

    • 18 Mar 2021
  • Club Brugge opens books on Brussels IPO

    Club Brugge, the Belgian football club, has begun bookbuilding for its IPO on Euronext Brussels, having fixed the price range at €17.50 to €22.50 a share.

    • 17 Mar 2021
  • CTP Logistics opens books for IPO that could top €1bn

    CTP Logistics, a commercial property developer based in the Czech Republic, began bookbuilding for its IPO on the Amsterdam stock exchange on Wednesday.

    • 17 Mar 2021
  • Bilibili readies $3bn HK secondary listing

    Chinese video sharing and gaming platform Bilibili is set to launch its Hong Kong secondary offering this week, after winning listing approval from the city’s bourse.

    • 17 Mar 2021
  • European IPO market rolls on as risk appetite improves

    Europe’s crop of pre-Easter IPOs are moving swiftly thorough the pipeline and investors are engaging with deals after an improvement in risk sentiment in line with recovering secondary markets and several successful block trades last week.

    • 16 Mar 2021
  • Alibaba-backed Smart Share pre-markets $300m US IPO

    Smart Share Global is drumming up interest in its Nasdaq IPO, which is expected to hit the market in late March, according to a source close to the trade.

    • 16 Mar 2021
  • Linklogis eyes HKEX nod for $1bn listing

    Linklogis, a technology-based supply chain finance company, is seeking approval for its Hong Kong IPO from the city’s stock exchange this week.

    • 16 Mar 2021
  • Your Deliveroo IPO will be with you despite tech sell-off

    Deliveroo, the UK takeaway delivery company, is pressing ahead with its IPO and has started formal investor education this week, despite heavy selling in technology stocks injecting more volatility into the market.

    • 15 Mar 2021
  • Former Commerzbank CEO launches fintech Spac

    Former Commerzbank CEO Martin Blessing has unveiled plans for a new special purpose acquisition company focused on financial technology in Europe, becoming the latest European banking executive to launch a Spac.

    • 15 Mar 2021
  • Golden moment: miner launches Moscow IPO

    GV Gold, the Russian gold miner, has launched an IPO on the Moscow stock exchange with sources close to the deal saying that 2021 is an opportune time for the miner to go public.

    • 15 Mar 2021
  • Fintech firm Bairong readies Hong Kong IPO

    Chinese financial technology company Bairong has set its Hong Kong listing in motion after winning approval from the city’s bourse.

    • 15 Mar 2021
  • Megvii sets Rmb6bn Star CDR listing in motion

    Alibaba Group Holding-backed artificial intelligence company Megvii Technology has officially filed for a Rmb6bn ($922m) listing of Chinese depository receipts on Shanghai’s Nasdaq-style Star board.

    • 15 Mar 2021
  • Craftsman Automation throws open India IPO

    Indian auto components maker Craftsman Automation opened bookbuilding for its Rp8.2bn ($113.3m) IPO on Monday.

    • 15 Mar 2021
  • Tuya, Smart Share charge up US listings

    China’s Tuya, an internet-of-things cloud platform provider, has kicked off the roadshow for its US listing. It is aiming to raise up to $871.8m.

    • 15 Mar 2021
  • Chinese Olympic star-backed Spac eyes $250m IPO

    Former Olympic gymnast and billionaire entrepreneur Li Ning, founder of sportswear brand Li-Ning, has set up a blank cheque firm targeting the Chinese consumer sector.

    • 12 Mar 2021
  • Baidu covers book for jumbo HK listing

    Chinese internet giant Baidu has met with a rapid flood of early demand for its Hong Kong secondary offering, which is expected to raise around $3bn.

    • 12 Mar 2021
  • Biden sanctions threat could freeze growing Russian IPO wave

    The Russian IPO market has a strong pipeline of listings being prepared for execution over the rest of the year. However, getting deals done could grow much harder with the threat of fresh sanctions against the country from a new US president threatening to derail the market.

    • 11 Mar 2021
  • HK secondary listings pick up pace with Baidu offering

    Secondary listings in Hong Kong got a fresh boost this week with online car marketplace Autohome pricing its deal and internet giant Baidu getting ready to roll out its transaction. More homecomings by US-listed Chinese companies are in the pipeline, but the number of viable candidates is shrinking, writes Jonathan Breen.

    • 11 Mar 2021
  • LVMH’s L Catterton bags $250m from Asia Spac IPO

    L Catterton Asia Acquisition Corp has bagged $250m from its Nasdaq IPO, as it becomes the latest special purpose acquisition company (Spac) focused on Asia to list in the US.

    • 11 Mar 2021
  • Coupang pushes pricing on $4.2bn US listing

    Coupang, a South Korean e-commerce company, scooped up $4.2bn from its IPO this week, after pricing the deal above the marketed range. It is the largest US listing from Asia since Alibaba Group Holding raised $25bn seven years ago.

    • 11 Mar 2021
  • Autohome wraps up Hong Kong secondary listing

    US-listed Autohome, an online car marketplace, has wrapped up its HK$5.34bn ($687.8m) secondary offering in Hong Kong, pricing the deal even as its US stock dived amid a market rout.

    • 10 Mar 2021
  • Baidu readies jumbo Hong Kong secondary listing

    Chinese internet company Baidu has filed updated offer documents for its Hong Kong secondary listing, the final step before it launches its potential multi-billion-dollar deal.

    • 10 Mar 2021
  • Coupang boosts IPO price, targets $4.1bn

    South Korean e-commerce company Coupang has increased the price range for its US IPO a day before wrapping up the deal, now putting proceeds of up to $4.08bn within reach.

    • 10 Mar 2021
  • Green equity issuers persevere against market volatility

    European equity deals linked to renewable energy have continued to come to market despite sustained turbulence buffeting the sector.

    • 09 Mar 2021
  • Vantage Towers brings big cornerstone but shrinks IPO

    Vantage Towers, the telecoms towers division of Vodafone, has announced the price range for its IPO on the Frankfurt Stock Exchange and secured cornerstone orders for almost half of the deal size. The deal is smaller than many had expected, as rising bond yields continues to impact wider equity markets.

    • 09 Mar 2021
  • YishengBio seeks greenlight for Hong Kong IPO

    China’s YishengBio is planning to list in Hong Kong, having filed an IPO application with the bourse on Monday.

    • 09 Mar 2021
  • Vaccine developer SK Bio heats up Korean market with IPO

    SK Bioscience has priced its IPO at the top of the marketed range, raising W1.49tr ($1.32bn) from South Korea’s largest listing in four years.

    • 09 Mar 2021
  • Trustpilot finds early momentum on IPO

    Trustpilot, the online review site, has moved closer to an IPO on the London Stock Exchange, attracting a number of high profile cornerstone investors to the deal.

    • 08 Mar 2021
  • Digital 9 Infrastructure opens books on £400m float

    Digital 9 Infrastructure, a new London-listed fund focused on digital infrastructure, has begun bookbuilding for its £400m IPO, enticing investors with the promise of chunky dividends.

    • 08 Mar 2021
  • Deliveroo launches long-awaited £1bn+ London IPO

    Deal hungry equity investors were salivating on Monday when Deliveroo, one of the year's most anticipated listings, filed its IPO registration document in London.

    • 08 Mar 2021
  • Friedrich Vorwerk starts investor education for IPO

    Friedrich Vorwerk, the German energy infrastructure construction company owned by MBB, has announced its intention to float on the Frankfurt Stock Exchange.

    • 08 Mar 2021
  • Utkarsh SFB sets up Rp13.5bn listing

    Utkarsh Small Finance Bank is planning an IPO of new and existing stock worth up to Rp13.5bn ($185.8m).

    • 08 Mar 2021
  • Chinese Q&A platform Zhihu readies US IPO

    Zhihu, China’s largest question-and-answer platform, has set its New York Stock Exchange IPO in motion.

    • 08 Mar 2021
  • European ECM suffers as US sell-off continues

    European equity capital markets continued to reel from volatility across the Atlantic on Friday. A sell-off in tech stocks is making the block trade market difficult and a popular IPO suffered on its first day of trading.

    • 05 Mar 2021
  • Sinic brings fresh property management IPO supply

    Sinic Service (Holdings) is gearing up for a listing in Hong Kong, adding further momentum to the IPO market of Chinese property management service providers.

    • 05 Mar 2021
  • Cheerwin prices $395m Hong Kong IPO at top end

    Cheerwin Group has pocketed HK$3.07bn ($395.3m) after pricing its IPO at the top of the marketed range, according to a source close to the deal.

    • 05 Mar 2021
  • Should London care if listings dwindle?

    The London listing review, out this week, has been hailed as a vital chance for the City to straighten its slipping crown as Europe’s top financial centre.

    • 04 Mar 2021
  • Czech CTP Logistics launches Amsterdam float

    CTP Logistics, a commercial real-estate developer based in the Czech Republic, has launched an IPO on the Amsterdam stock exchange.

    • 04 Mar 2021
  • HKEX looks to jump in on Spac IPO fever in Asia

    Hong Kong has begun exploring ways to allow listings by special purpose acquisition companies (Spacs), which are gaining popularity in Asia after taking the US by storm in the past year. But while the early-stage discussions show the bourse’s growth ambitions, it will have to clear numerous roadblocks to make blank-cheque firms a reality. Jonathan Breen reports.

    • 04 Mar 2021
  • Equity market cheers London listing review

    Equity capital market participants cheered the publication on Wednesday of former EU commissioner Jonathan Hill's review of London listing rules. The report, written on behalf of the UK Treasury, recommended sweeping changes in order to attract more companies to the London Stock Exchange. On Thursday, Deliveroo, the food delivery company, announced it would be listing in London.

    • 03 Mar 2021
  • Club Brugge kicks off Brussels IPO process

    Belgian football club Club Brugge is teeing up an IPO on Euronext Brussels that will see the side join the small ranks of listed European football clubs.

    • 03 Mar 2021
  • Hong Kong eyes Spac IPO opportunities

    Hong Kong is exploring the possibility of getting in on the craze around special purpose acquisition companies (Spac), which has begun to gain ground in Asia this year.

    • 03 Mar 2021
  • Korea’s Coupang throws open $3.6bn US IPO

    Coupang, an e-commerce company, has kicked off bookbuilding for an up to $3.6bn IPO that is set to be the largest ever US listing by a South Korean issuer.

    • 03 Mar 2021
  • Ping An-backed Autohome kicks off secondary listing

    Online car marketplace Autohome has launched the roadshow for a secondary listing in Hong Kong. The float of new and existing stock could raise up to HK$7.6bn ($983.2m).

    • 03 Mar 2021
  • Reports of the City's death have been greatly exaggerated

    Concerns that London is losing ground to other financial centres within Europe, such as Amsterdam, which has surpassed London as Europe’s largest centre for equities trading, are overblown. The UK capital remains an attractive listing venue for high-growth firms and could become more so after a Treasury review of London’s listing regime is published this week. But the City should not abandon the core principles on which its reputation has been built just to claw back a short-term loss of business.

    • 02 Mar 2021
  • In The Style joins the fashion for London listing

    In The Style, the UK online fashion company, is gauging investor appetite for a stockmarket listing, having announced its intention to float this week.

    • 02 Mar 2021
  • Magnum Opus Spac readies $200m IPO

    Blank cheque firm Magnum Opus Acquisition has set in motion a $200m New York Stock Exchange IPO, filing paperwork with the US regulator on Monday.

    • 02 Mar 2021
  • JPM drops lead role on WeDoctor IPO

    JP Morgan has stepped down from its position as sponsor on healthcare platform WeDoctor’s planned Hong Kong IPO, according to a source familiar with the matter.

    • 02 Mar 2021
  • Fix Price prices IPO at top after cornerstone boost

    Fix Price, the discount Russian retailer, priced its London and Moscow IPO on Thursday after managing to secure some of the world’s highest quality investors as cornerstones at the beginning of the week.

    • 01 Mar 2021
  • Trustpilot unveils plans for $400m London flotation

    Trustpilot, the global review platform, has announced plans for an IPO on the London Stock Exchange, continuing the strong run of tech IPOs in Europe.

    • 01 Mar 2021
  • Malaysia’s Top Glove eyes HK$15bn dual listing

    Malaysian rubber glove manufacturer Top Glove Corp is aiming to raise up to HK$14.95bn ($1.93bn) from a dual primary listing in Hong Kong.

    • 01 Mar 2021
  • Tencent-backed Tuya, Connect Biopharma ready US IPOs

    Tuya, an internet-of-things cloud platform provider, is eyeing around $100m from an IPO of American depositary shares (ADS).

    • 01 Mar 2021