One small deal is currently scheduled for the short week ahead, but all eyes are on Arm (ARM), which is expected to launch after Labor Day.
On file for an estimated $6 billion IPO, Arm is expected to join the calendar on Tuesday. The chip designer would be one of the largest tech IPOs of the past two decades, and could be the deal to finally break through the post-2021 tech logjam. Tech names and recent filers Instacart (CART) and Klaviyo (KVYO) are expected to follow as the IPO market gains steam through year-end. For more on what to expect in the coming months, read our Fall 2023 US IPO Preview.
The week’s sole scheduled deal, Gamer Pakistan (GPAK) plans to raise $8 million at a $115 million market cap. The pre-revenue company is initially focused on creating men's and women's college, inter-university, and professional esports events, particularly with colleges and universities in Pakistan.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Gamer Pakistan (GPAK) Henderson, NV | $8M $115M | $4 - $5 1,700,000 | WestPark Capital |
| Pre-revenue organizer of esports events in Pakistan. | |||
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Street research is expected for two companies in the week ahead, and two lock-up periods will be expiring. For access to Street research and lock-up expiration dates, sign up for a free trial IPO Pro.
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 8/31/2023, the Renaissance IPO Index was up 31.9% year-to-date, while the S&P 500 was up 18.7%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Airbnb (ABNB) and Snowflake (SNOW). The Renaissance International IPO Index was down 13.3% year-to-date, while the ACWX was up 9.2%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Kuaishou and Porsche.
