There are no sizeable IPOs scheduled to list in the week ahead, though we're tracking four micro-caps from Asia that could potentially price their deals: Singapore skincare company Cuprina Holdings (CUPR), Hong Kong financial communications company Powell Max (PMAX), Singapore business information company Trident Digital Tech (TDTH), and Chinese auto parts company Autozi Internet Technology (AZI), could potentially price their deals.
WeRide (WRD) postponed its $110 million IPO this past week, and could look to pursue a listing in the coming weeks or months.
Companies looking to conduct mid-September IPOs are expected to continue filing preliminary prospectuses over the next week.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Cuprina Holdings (CUPR) | $15M $87M | $4 3,750,000 | Network 1 |
| Singapore-based provider of skincare and chronic wound care products. | |||
| Powell Max (PMAX) Hong Kong, China | $8M $74M | $4 - $6 1,650,000 | WallachBeth Revere Sec. |
| Provides financial communication services in Hong Kong. | |||
| Trident Digital Tech (TDTH) | $11M $387M | $5 - $7 1,800,000 | WallachBeth Revere Sec. |
| Provides business consulting, marketing, and IT services to SMEs in Singapore. | |||
| Autozi Internet Technology (AZI) Beijing, China | $11M $472M | $8 - $10 2,500,000 | Tiger Brokers Kingswood |
| Sells parallel import cars and auto parts in China. | |||
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IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 8/22/2024, the Renaissance IPO Index was up 8.3% year-to-date, while the S&P 500 was up 17.8%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Kenvue (KVUE) and Nu Holdings (NU). The Renaissance International IPO Index was down 5.5% year-to-date, while the ACWX was up 10.7%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Barito Renewables Energy and Amman Mineral Internasional.
