US IPO Weekly Winners & Losers

As we ring in a new year, let's celebrate an encouraging start to 2023! While we are not out of the woods yet, the IPO market is showing signs of progress.

J&J's Kenvue (NYSE: KVUE) was a major headline in the market, and investors have good reason to be confident. With excellent financial results and reliable operations, it looks like this consumer health giant can stand strong no matter what comes its way - even if that means facing an adverse IPO environment. The deal should be a whopper. We currently estimate that it could raise up to $5 billion.

The calendar also got a boost, as property and casualty insurer Skyward Specialty (Nasdaq: SKWD) launched what is set to be the first sizable IPO of 2023. It plans to price its $128 million offering in the coming week, joined by Lionel Messi-affiliated micro-cap MGO Global (Nasdaq: MGOL).

Last year's larger deals saw an extraordinary departure from the usual tech and consumer giants. Insurer Skyward is leading a new wave of high-profile startups to enter the public market this year. A successful listing could inspire bigger IPOs to test the waters, and there are plenty of candidates on tap.

The IPO Index fell -1.6% this week, compared to the S&P 500’s +1.4% gain. On news of easing regulations, Chinese issuers experienced a sharper-than-usual surge; online property platform KE Holdings soared by an impressive +27.5%. Software firm Confluent finished down -18.2% as tech stocks traded off.

Our 2022 review is complete and the results are in! The Big Four accounting firms have been ranked, giving insightful information to guide decision-making. To continue your research journey, look out for our upcoming report on the busiest IPO law firms next week - you won't want to miss it!