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US IPO Week Ahead: Relatively quiet week follows blockbuster Kenvue IPO

May 5, 2023
Week Ahead

One company is scheduled to list in the week ahead, although it is not eligible for inclusion in our IPO stats. However, other issuers may join the calendar early in the week following the strong debut of J&J spin-off Kenvue (KVUE).

Projection screen maker Strong Global Entertainment (SGE) plans to raise $8 million at a $40 million market cap. Being spun out of FG Group (NYSE American: FGH), the company manufactures large format projection screens and provides related products and services, primarily to cinemas, theme parks, educational institutions, and similar venues. The company is profitable and growing, though its top 10 customers accounted for over half of revenue in 2022.

Street research is expected for two companies in the week ahead, and four lock-up periods will be expiring. For access to Street research 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 5/4/2023, the Renaissance IPO Index was up 11.2% year-to-date, while the S&P 500 was up 6.4%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Snowflake (SNOW) and Airbnb (ABNB). The Renaissance International IPO Index was down 6.3% year-to-date, while the ACWX was up 8.4%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Porsche and JD Health.