International IPO Index: International markets surged this week on the prospect of a ceasefire in the Middle East. The Renaissance International IPO Index shot up +10.8%, its best week in years, outperforming the ACWX ex-US ETF's +4.9% gain. Tokyo-listed memory chip maker Kioxia soared +42.9% on reports of a potential dividend, while Amsterdam-listed ammunition maker CSG fell -13.4% to take the bottom spot.
The Renaissance Int'l Index has now returned +17.1% year-to-date, and +77.8% over the past year.
Big Development: After a brief pause, the ceasefire seems to have restarted Hong Kong's busy IPO market. Three sizable names launched this week, and a large backlog could soon follow suit.
Latest Listings: Three sizable listings took place in China's A-share market, all of which jumped over +160%, featuring drones, metals, and circuit boards.
The Week Ahead: In Hong Kong, energy storage system maker Sigenergy ($560mm) is set to list. Chip sensor designer Gpixel ($330mm) and design software provider Manycore Tech ($150mm) are also scheduled to debut in the city.
The Pipeline: In India, the NSE reportedly met with banks to start drafting its prospectus, while dairy products maker Milky Mist reaffirmed its IPO plans. Hospital operator Asia OneHealthcare tapped banks for a Malaysian IPO. In Japan, ride-hailing app GO and HR platform SmartHR are reportedly working with banks for Tokyo IPOs.
Restaurant franchiser Rex Concepts announced its intent for a Warsaw IPO. In Australia, job search platform swipejobs tapped Barrenjoey for an IPO that could come late this year. Nigeria-based oil refiner Dangote Refinery met with various African stock exchanges to discuss cross-exchange access to its stock, as it works towards a blockbuster Lagos IPO.
Thanks for reading,
-Angelo Bochanis, Data Analyst
-Matt Kennedy, Senior Strategist
|
Biggest price changes through
Apr 10th
in the
Renaissance International IPO Index
|
||
|---|---|---|
| Top 5 | ||
| Kioxia (Toshiba Memory) | 285A.JP | 42.9% |
| Kokusai Electric | 6525.JP | 32.1% |
| JX Advanced Metals | 5016.JP | 29.7% |
| Shanghai Biren Intelligent Technology | 6082.HK | 19.7% |
| Amman Mineral Internasional | AMMN.IJ | 15.4% |
| Bottom 5 | ||
| CSG (Czechoslovak Group) | CSG.NA | -13.4% |
| Guming Holdings | 1364.HK | -5.6% |
| Mao Geping Cosmetics | 1318.HK | -4.0% |
| Renk | R3NK.GR | -3.5% |
| Tokyo Metro | 9023.JP | -3.4% |
| Sectors | ||
| Technology | 15.8% | |
| Materials | 12.4% | |
| Financials | 4.5% | |
| Consumer Discretionary | 2.2% | |
| Industrials | 1.9% | |
| Health Care | 0.7% | |
| Consumer Staples | -0.7% | |
Renaissance International IPO ETF (NYSE symbol: IPOS) tracks the Renaissance International IPO Index
The Renaissance International IPO Index returned 10.8% last week vs. 4.9% for the iShares MSCI ACWI ex U.S. ETF.
