Three IPOs are currently scheduled to list in the week ahead, all of them holdovers from previous weeks, and all based in the Asia Pacific region.
Singapore-based Cuprina Holdings (CUPR) is set to raise $15 million at an $87 million market cap. The company is focused on the development and commercialization of products for the management of chronic wounds, with plans to expand into cosmeceutical products in the future. It currently manufactures and distributes a line of medical grade sterile blowfly larvae bio-dressing products marketed under the MEDIFLY brand name. In addition to the MEDIFLY products, the company has two lines of chronic wound care products in its pipeline, and currently expects development to take place over the course of 2024 and 2025.
Singapore-based holdover Trident Digital Tech (TDTH) is scheduled to raise $11 million at a $387 million market cap. Through its business consulting segment, Trident provides a variety of services to SMEs in Singapore, including business strategy advisory, design of business workflows and processes, brand and reputation, and digital marketing. The company also offers tailor-made IT solutions and packaged software solutions through its IT customization segment.
Hong Kong financial communications firm Powell Max (PMAX) is set to raise $8 million at a $74 million market cap. Powell Max provides financial communications services that support capital market compliance and transaction needs for corporate clients and their advisors in Hong Kong. Its services include financial printing, corporate reporting, communications, and language support services from inception to completion.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Powell Max (PMAX) Hong Kong, China | $8M $74M | $4 - $6 1,650,000 | WallachBeth Revere Sec. |
| Provides financial communication services in Hong Kong. | |||
| Cuprina Holdings (CUPR) | $15M $87M | $4 3,750,000 | Network 1 |
| Singapore-based provider of skincare and chronic wound care products. | |||
| 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. | |||
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IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 8/29/2024, the Renaissance IPO Index was up 10.1% year-to-date, while the S&P 500 was up 18.3%. 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 3.3% year-to-date, while the ACWX was up 11.3%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Barito Renewables Energy and Amman Mineral Internasional.
