Two IPOs are tentatively scheduled to list in the week ahead, although some small issuers may join the calendar throughout the week.
US oil and gas producer Peak Resources LP (PRB) plans to raise $66 million at a $209 million market cap in the week ahead. The company's operations are primarily in located the Powder River Basin of Wyoming. It utilizes horizontal drilling, and has identified 1,770 gross (530 net) horizontal drilling locations across its approximately 65,000 gross (45,000 net) acres. As of June 30, 2024, it operates 104 gross (56 net) producing horizontal wells and holds interests in an additional 83 gross (five net) non-operated wells. The company's total estimated proved reserves as of December 31, 2023, were approximately 16,247 Mboe, with 59% oil and 41% natural gas.
Chinese digital textbook provider Jinxin Technology Holding (NAMI) plans to raise $8 million at a $291 million market cap. Jinxin Technology provides a digital textbook platform and digital educational content for K-9 students in China. The company collaborates with textbook publishers in China to provide digital version of textbooks used in primary and middle schools. It also creates and develops digital self-learning contents and leisure reading materials in-house.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Jinxin Technology (NAMI) Shanghai, China | $8M $291M | $4 - $5 1,875,000 | Craft Capital WestPark Capital |
| Provides a digital textbook and educational content platform for K-9 students in China. | |||
| Peak Resources LP (PRB) Durango, CO | $66M $209M | $13 - $15 4,700,000 | Janney Roth Cap. |
| US oil and natural gas producer operating in the Powder Ridge Basin. | |||
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Street research is expected for six 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 of IPO Pro.
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 10/24/2024, the Renaissance IPO Index was up 18.4% year-to-date, while the S&P 500 was up 23.2%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Nu Holdings (NU) and Kenvue (KVUE). The Renaissance International IPO Index was down 8.4% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Porsche. And Amman Mineral Internasional
