One IPO is currently scheduled in the week ahead, as markets remain trepid amid geopolitical volatility, although some smaller issuers may join the calendar throughout the week.
Drilling equipment and services provider HMH Holding (HMH) is set to raise $216 million at an $883 million market cap. HMH Holding first filed for its US IPO in August 2024; the deal's launch coincides with a sharp increase in oil prices since the outbreak of the war in Iran. HMH's publicly-traded parent companies, Baker Hughes (38% post-IPO stake) and Akastor (38%), have each traded up more than 30% year-to-date. HMH is a leading equipment provider for the oil and gas industry, with a focus on offshore operations through sales of projects and products, and aftermarket services. The company operates globally, with a presence in 16 countries and sales in over 60 countries. It serves core customer categories: drilling contractors, operators (including oil and gas companies and mining companies), and manufacturers.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| HMH Holding (HMH) Houston, TX | $216M $883M | $19 - $22 10,520,000 | JP Morgan Piper Sandler |
| Provider of drilling equipment and services. | |||
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IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 3/26/2026, the Renaissance IPO Index was down 7.9% year-to-date, while the S&P 500 was down 5.1%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Kenvue (KVUE) and CoreWeave (CRWV). The Renaissance International IPO Index was up 6.9% year-to-date, while the ACWX was up 0.7%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Kioxia and JX Advanced Metals.
