International IPO Index: International new stocks rose again this week, with the Renaissance International IPO Index up +1.2%, and the ACWX ex-US ETF up +0.9%. Japan-listed metals company JX Advanced Metals traded up +19.2% to take the top spot, while Italian gaming company Lottomatica took the bottom spot, off -7.7%.
Big Development: Czech military equipment maker Czechoslovak Group announced its intent to list in Amsterdam this week. The deal could raise €3 billion and value it at €30 billion, which would make it one of Europe's largest IPOs in recent years.
Latest Listings: Two sizable chip names completed Hong Kong cross-listings. Integrated circuit designer OmniVision ($620mm; fka Will Semiconductor) ticked up +7%. Memory chip designer GigaDevice ($600mm) surged +44%.
The Week Ahead: Consumer electronics manufacturer Longcheer ($210mm) is another China A-share scheduled to list in Hong Kong. In India, ad platform Amagi ($190mm) is set to list, as is coal coke producer BCCL ($120mm).
The Pipeline: India's active IPO market is gearing up for more listings. Logistics firm Shadowfax ($210mm) launched an IPO, while enterprise AI provider Fractal Analytics is planning to launch its own listing soon. Regulators approved the listing plans of flexible workspace provider Executive Centre, while Coca-Cola's Indian bottling unit tapped banks for a billion-dollar IPO.
South Korean digital bank K Bank ($360mm) launched an IPO, and industrial robot maker HD Hyundai Robotics is working with banks for its own Seoul debut. In Hong Kong, energy beverage maker Eastroc reportedly began investor meetings for its listing, while pharmacy chain Watsons began gauging interest for a Hong Kong-London dual listing. Dutch telecom Odido could file for an Amsterdam IPO imminently. Australian veterinary chain Greencross is reportedly weighing an IPO this quarter. Saudi Arabia's PIF has earmarked port operator Saudi Global Ports for an IPO this year.
Thanks for reading,
-Angelo Bochanis, Data Analyst
-Matt Kennedy, Senior Strategist
|
Biggest price changes through
Jan 16th
in the
Renaissance International IPO Index
|
||
|---|---|---|
| Top 5 | ||
| JX Advanced Metals | 5016.JP | 19.2% |
| Kioxia (Toshiba Memory) | 285A.JP | 16.2% |
| Zijin Gold International | 2259.HK | 10.2% |
| Chifeng Jilong Gold Mining | 6693.HK | 9.2% |
| Rakuten Bank | 5838.JP | 4.9% |
| Bottom 5 | ||
| Lottomatica Group | LTMC.IM | -7.7% |
| J&T Global Express | 1519.HK | -5.0% |
| Zabka Group | ZAB.PW | -4.3% |
| Mao Geping Cosmetics | 1318.HK | -3.8% |
| Galderma | GALD.SW | -3.7% |
| Sectors | ||
| Materials | 9.2% | |
| Technology | 3.4% | |
| Health Care | 0.0% | |
| Financials | -0.2% | |
| Consumer Staples | -0.6% | |
| Industrials | -1.0% | |
| Communication Services | -1.5% | |
| Consumer Discretionary | -3.3% | |
Renaissance International IPO ETF (NYSE symbol: IPOS) tracks the Renaissance International IPO Index
The Renaissance International IPO Index returned 1.2% last week vs. 0.9% for the iShares MSCI ACWI ex U.S. ETF.
