No IPOs are currently scheduled to list in the week ahead, as markets take a break to celebrate the Fourth of July, although some small issuers may join the calendar during the week.
A handful of deals are already scheduled for later in July, most notably aviation company Surf Air Mobility (SRFM), which is slated to complete the first direct listing of 2023. We expect to see activity pick up before the annual August break, following the past week’s successful batch of large IPOs (SVV, KGS, FIHL, and VTMX).
This past week, we released our reviews of the 2Q23 US and global IPO markets, where we cover activity over the past quarter, IPO performance, our outlook going forward, and more. Get a free preview of the review, or sign up for a free trial of IPO Pro to read the full report.
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/29/2023, the Renaissance IPO Index was up 30.3% year-to-date, while the S&P 500 was up 15.5%. 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 10.5% year-to-date, while the ACWX was up 9.0%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Porsche and Kuaishou.
