Three IPOs priced this past week, joined by four SPACs.
The biggest news of the week came from the pipeline, with Korea-listed SK hynix (SKHY) finally filing publicly for its US cross-listing. The memory chip giant is currently valued at over $1 trillion and is reportedly planning to raise about $29 billion, which would make it the second largest IPO of all time.
Engine products manufacturer DPC Holdings (DPC) upsized and priced above the range to raise $919 million at a $4.8 billion market cap. Doing business as Doncasters, the company manufactures precision cast components and nickel- and cobalt-based superalloys for the hot sections of aerospace engines and industrial gas turbines. Demand for its products has been driven by electricity demand and growing commercial air fleets. Doncasters finished up 43%.
Mexican silver miner Sinda (SIND) priced slightly below the midpoint to raise $213 million at a $1.9 billion market cap. The company was originally expected to price at the end of June but accelerated its timing. Backed by natural resources investment firm The Electrum Group, Sinda is an exploration-stage company focused on the development of the Sinda Property in Guanajuato, Mexico. To date, it has not yet established a mine plan or commenced production, has generated no revenue, and has relied on funding from its sponsor to finance exploration activities. Sinda finished flat.
China-based software firm DSC Holdings (DSC) priced at the midpoint to raise $51 million at a $905 million market cap. The company provides digitalization tools and transaction services primarily to used car dealers in China, claiming that its system manages over 50% of China's used car inventory by vehicle identification number as of early 2026. The company is unprofitable and saw revenue fall sharply in 2025. DSC plummeted 47% on day one, one of the worst debuts for a $50+ million IPO that we have on file. It finished the week off 57%.
| 7 IPOs During the Week of June 22nd, 2026 | |||||
|---|---|---|---|---|---|
| Issuer Business | Deal Size | Market Cap at IPO | Price vs. Midpoint | First Day Return | Return at 06/26 |
| Doncasters Group (DPC) | $919M | $4,790M | 10% | +42% | +43% |
| Manufactures complex engine products for aerospace and industrial gas turbines. | |||||
| Gores Holdings XI (GHXIU) | $312M | $392M | 0% | +1% | +1% |
| Blank check company formed by The Gores Group. | |||||
| Sinda (SIND) | $213M | $1,924M | -2% | +0% | +0% |
| Exploration-stage silver miner with operations in Guanajuato, Mexico. | |||||
| Futurewave Acquisition (FWACU) | $75M | $112M | 0% | +0% | +0% |
| Blank check company targeting long-term growth potential and defensible market positions. | |||||
| Alpex Acquisition (ALPXU) | $100M | $129M | 0% | +0% | +0% |
| Blank check company led by Chinese executives targeting next-gen technologies. | |||||
| Cartesian Growth IV (CGCFU) | $250M | $313M | 0% | +0% | +0% |
| Fourth blank check company formed by Cartesian Capital Group targeting high-growth businesses. | |||||
| DSC Holdings (DSC) | $51M | $905M | 0% | -47% | -57% |
| China-based provider of operating systems and transaction services for used car dealers. | |||||
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In addition to SK hynix, one other sizable filer joined the pipeline. Womenswear brand Reformation (REF) filed for an IPO we estimate could raise $200 million.
| 6 Filings During the Week of June 22nd, 2026 | |||
|---|---|---|---|
| Issuer Business | Deal Size | Sector | Lead Underwriter |
| AMR Resources Acquisition (AMACU) | $250M | SPAC | BTIG |
| Blank check company targeting the critical minerals sector. | |||
| Gold Stone Technical (GLDS.RC) | $28M | Technology | Prime Num. Cap. |
| Hong Kong-based IT solutions provider for the finance and marketing industries. | |||
| ChainOn Group (CHON) | $31M | Technology | Univest Sec. |
| Hong-Kong based provider of Web3, cloud, and software development services. | |||
| Reformation (REF) | $200M | Consumer Discretionary | JP Morgan |
| DTC-focused womenswear brand with 66 stores. | |||
| Hoya Acquisition I (HOYU.RC) | $100M | SPAC | Chardan |
| Blank check company targeting defense tech, autonomous driving, and e-commerce. | |||
| SK hynix (SKHY) | $29,430M | Technology | BofA |
| Leading South Korea-based DRAM and flash memory chip maker. | |||
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IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/25/2026, the Renaissance IPO Index was up 23.9% year-to-date, while the S&P 500 was up 8.1%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Astera Labs (ALAB) and CoreWeave (CRWV). The Renaissance International IPO Index was up 53.2% year-to-date, while the ACWX was up 14.6%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Kioxia and CATL.
