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US IPO Week Ahead: Short holiday week is primed for big launches

January 12, 2024
Week Ahead

The IPO calendar looks quiet for now, although after a recent wave of new filings and updates, a number of large issuers could launch in the short week ahead.

Two recent additions on file for billion-dollar listings could launch after the holiday: Kazakhstani “super-app” provider (KSPI), which could raise $1.5 billion, and healthcare services provider BrightSpring Health (BTSG), which could raise $1 billion. Another recent filer, Phase 3 bladder cancer firm CG Oncology (CGON), could also launch.

Several other companies that have been publicly on file for longer have recently updated their prospectuses, raising the prospect of more IPO launches. These include specialty insurer Fortegra (TFG), American Healthcare REIT (AHR), and Chinese EV brand ZEEKR (ZK).

Street research is expected for one company in the week ahead, and three 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 1/11/2024, the Renaissance IPO Index was down 5.2% year-to-date, while the S&P 500 was up 0.3%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Kenvue (KVUE) and Coinbase Global (COIN). The Renaissance International IPO Index was down 6.0% year-to-date, while the ACWX was down 1.8%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Wise and Kuaishou.