Mach Natural Resources (MNR) is currently the only IPO scheduled for the week ahead, although some small issuers may join the calendar late.
Mach Natural Resources, an oil and gas driller in the Anadarko Basin, plans to raise $200 million at a $1.9 billion market cap in the year’s second IPO from an energy MLP. Focused on acquiring distressed assets, the company uses horizontal wells tap into previously inaccessibly reserves. The company has demonstrated an ability to grow through acquisitions and plans to offer a dividend, though there is some hair on its corporate governance picture.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Mach Natural Resources (MNR) Oklahoma City, OK | $200M $1,900M | $19 - $21 10,000,000 | Stifel Raymond James |
| US oil and gas production company in the Anadarko Basin. | |||
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Street research is expected for four companies in the week ahead, and one lock-up period 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 10/19/2023, the Renaissance IPO Index was up 23.9% year-to-date, while the S&P 500 was up 12.9%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Kenvue (KVUE) and Palantir Technologies (PLTR). The Renaissance International IPO Index was down 22.5% year-to-date, while the ACWX was up 3.2%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Kuaishou and Porsche.
