Three IPOs are scheduled to list in the week ahead, although some small deals may join the calendar at the last minute.
Global trading platform eToro Group (ETOR) plans to raise $480 million at a $4.5 billion market cap. eToro’s platform aims to combine a social network with the ability to trade and invest, all within a regulated, digital investment platform for financial discourse. As of December 31, 2024, eToro had approximately 3.5 million Funded Accounts across its global footprint of 75 countries. The company’s total commission grew 45% in 2024, and its net contribution grew 41%. However, it is dependent on volatile trading volumes and prices, and is subject to varying regulations, especially within the crypto space.
Singapore-based oil and gas equipment maker OMS Energy Technologies (OMSE) plans to raise $50 million at a $399 million market cap. The company manufactures surface wellhead systems and oil country tubular goods, primarily for onshore and offshore E&P activities. OMS has a 10-year agreement with Saudi Aramco, which accounts for a majority of the company’s revenue.
Singapore-based digital asset-focused financing firm Antalpha Platform Holding (ANTA) plans to raise $46 million at a $309 million market cap. Antalpha provides financing, technology, and risk management solutions to the digital asset industry. The company is the primary lending partner for Bitmain and provides supply chain financing solutions to institutional and corporate participants in the Bitcoin mining industry, offering loans secured by Bitcoin and Bitcoin mining machines. Its revenue jumped more than three times in 2024, although it demands on volatile crypto demand and prices.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Antalpha (ANTA) | $46M $309M | $11 - $13 3,850,000 | Roth Cap. Compass Point |
| Singapore-based provider of supply chain financing for the digital asset industry. | |||
| OMS Energy Technologies (OMSE) | $50M $399M | $8 - $10 5,555,556 | Roth Cap. |
| Singapore-based manufacturer of surface wellhead systems and oil country tubular goods. | |||
| eToro (ETOR) Bnei Brak, Israel | $480M $4,468M | $46 - $50 10,000,000 | Goldman Jefferies |
| Global trading platform for retail investors. | |||
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IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 5/8/2025, the Renaissance IPO Index was down 6.1% year-to-date, while the S&P 500 was down 3.3%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Kenvue (KVUE) and Arm Holdings (ARM). The Renaissance International IPO Index was up 9.7% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Galderma and Porsche.
