International IPO Index: International new stocks pared some of their gains this week, as the Renaissance International IPO Index ticked down -0.9%, while the ACWX ex-US ETF inched up +1.2%. Turkey-based factoring company Destek Faktoring was the biggest winner, up +35.6%, while Japanese memory chip maker Kioxia pulled back -10.0% to take the bottom spot.
Big Development: India's IPO market is struggling to take advantage of global AI hype. Enterprise AI provider Fractal Analytics ($310mm), hailed as the country's first AI IPO, fell -5% in a disappointing debut.
Latest Listings: Also in India, non-bank lender Aye Finance ($110mm) ticked down -3%.
The Week Ahead: No international $100mm+ IPOs are currently scheduled in the week ahead, as much of the Asia-Pacific region is on break for Lunar New Year.
The Pipeline: In India, renewable power generator CleanMax ($330mm) launched an IPO, while asset manager SBI Funds Management and renewable energy firm Hero Future Energies prepare to submit filings in the coming weeks. Medical device maker Integris Medtech won regulatory approval for its listing.
UK-based cyber insurance provider CFC tapped banks for a possible IPO. Retirement village operator Metlifecare hired banks for a New Zealand-Australia dual listing.
Thanks for reading,
-Angelo Bochanis, Data Analyst
-Matt Kennedy, Senior Strategist
|
Biggest price changes through
Feb 20th
in the
Renaissance International IPO Index
|
||
|---|---|---|
| Top 5 | ||
| Destek Finans Faktoring | DSTKF.TI | 35.6% |
| Rakuten Bank | 5838.JP | 5.2% |
| Amman Mineral Internasional | AMMN.IJ | 4.6% |
| Renk | R3NK.GR | 4.6% |
| NOBA Bank Group | NOBA.SS | 4.5% |
| Bottom 5 | ||
| Kioxia (Toshiba Memory) | 285A.JP | -10.0% |
| Seres Group (Chongqing Sokon Industrial) | 9927.HK | -7.7% |
| Verisure | VSURE.SS | -6.1% |
| Springer Nature | SPG.GR | -3.4% |
| Tokyo Metro | 9023.JP | -3.2% |
| Sectors | ||
| Financials | 11.1% | |
| Materials | 2.4% | |
| Industrials | 0.3% | |
| Consumer Discretionary | 0.1% | |
| Health Care | -0.4% | |
| Consumer Staples | -0.5% | |
| Technology | -1.7% | |
| Communication Services | -3.4% | |
Renaissance International IPO ETF (NYSE symbol: IPOS) tracks the Renaissance International IPO Index
The Renaissance International IPO Index returned -0.9% last week vs. 1.2% for the iShares MSCI ACWI ex U.S. ETF.
