One IPO is currently scheduled for the week ahead as investors continue to hold their breath for the year’s last potential mega IPO.
Africa-focused digital bank and fintech platform OPay (OPAY) plans to raise $320 million at a $4.2 billion market cap. Built for the challenges of emerging markets, OPay has established itself as the #1 finance app in Africa and the Middle East, with a 9.9% market share based on monthly active users in the 1H26. In that same period, the company grew gross transaction value by 143% and expanded operating margin to 28%, though it depends heavily on Nigerian consumer spending.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| OPay (OPAY) | $320M $4,214M | $19 - $21 16,000,000 | Citi Deutsche Bank |
| Digital bank and fintech platform in Nigeria and other emerging markets. | |||
Anthropic has yet to make its S-1 public, though recent reports indicate a public filing is imminent. A late-October filing would line up with the company’s reported mid-November listing target, though the absence of a filing on Friday may signal a debut after the Thanksgiving holiday. In the meantime, details keep leaking: Anthropic reportedly told investors that 3Q26 revenue reached $16.8 billion, up from $11.5 billion in the prior quarter, and that it is profitable on an adjusted basis.
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Street research is expected for two companies in the week ahead, and six lock-up periods will be expiring. Find Street research and lock-up expiration dates on IPO Pro.
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 10/22/2026, the Renaissance IPO Index was up 6.0% year-to-date, while the S&P 500 was up 13.0%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include SpaceX (SPCX) and Astera Labs (ALAB). The Renaissance International IPO Index was up 9.4% year-to-date, while the ACWX was up 11.2%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Galderma and Kioxia (Toshiba Memory).
