There are currently no deals scheduled for the upcoming week as the IPO market pauses to digest a lackluster performance from Birkenstock (BIRK). However, some small issuers may join the calendar late.
The prominent sandal marker’s shares tumbled 13% during its inaugural trading day, before finishing the week down 21%. Meanwhile, the calendar remains empty with no major launches. Notably, Mach Natural Resources LP (MNR), an oil and gas producer focused in the Anadarko Basin, opted to sit on the sidelines despite becoming eligible to begin its roadshow earlier this week. Several other large filers may set terms in the coming week, including inflammatory disease biotech Abivax (ABVX), which aims to raise $100 million.
Street research is expected for three companies in the week ahead, and four 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 10/12/2023, the Renaissance IPO Index was up 26.7% year-to-date, while the S&P 500 was up 14.8%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Palantir (PLTR) and Kenvue (KVUE). The Renaissance International IPO Index was down 18.3% year-to-date, while the ACWX was up 6.4%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Kuaishou and Porsche.
