International IPO Index: International new stocks had a solid week, with the Renaissance International IPO Index up +4.2%, while the ACWX ex-US ETF rose +1.9%. Hong Kong-listed memory chip designer GigaDevice was this week's biggest winner, up +43.0% on strong earnings. Jakarta-listed copper and gold miner Amman Mineral fell -21.6% to take the bottom spot.
Big Development: Australia's largest IPO of the year, piercings studio SkinKandy ($120mm) debuted this week. It traded up +9%.
Latest Listings: In Hong Kong, CNC machinery maker TopNC ($220mm) jumped +48%, while autonomous vehicle developer UISEE ($110mm) inched down -2%. Three China A-shares listed, and all soared over +100%.
The Week Ahead: Two more names are set to debut in Hong Kong. 3D printer maker Creality ($180mm) and integrated circuit designer Viewtrix ($140mm) are scheduled to list.
The Pipeline: Several European names are moving towards listings. In Denmark, fish feed producer BioMar ($410mm) set terms, while HVAC installation firm InstallatørGruppen announced its intention to float. Small modular reactor developer Emerald Horizon announced its intent for a Vienna IPO.
In Hong Kong, wind turbine engineering Dajin Heavy Industry passed a hearing for its listing, while humanoid robot developer Linkerbot and global resort operator Club Med are working with banks on IPOs. In India, grocery delivery platform Zepto is nearing a potential $1.2 billion listing, while microlender Arohan Financial Services filed for an IPO. Real estate developer BST Group filed for a Tel Aviv listing.
Thanks for reading,
-Angelo Bochanis, Data Analyst
-Matt Kennedy, Senior Strategist
|
Biggest price changes through
May 22nd
in the
Renaissance International IPO Index
|
||
|---|---|---|
| Top 5 | ||
| GigaDevice Semiconductor | 3986.HK | 43.0% |
| Kioxia (Toshiba Memory) | 285A.JP | 29.1% |
| CSG (Czechoslovak Group) | CSG.NA | 16.1% |
| Shenzhen Han’s CNC Technology | 3200.HK | 15.8% |
| Renk | R3NK.GR | 11.6% |
| Bottom 5 | ||
| Amman Mineral Internasional | AMMN.IJ | -21.6% |
| Rakuten Bank | 5838.JP | -19.2% |
| Puig Brands | PUIG.SM | -12.5% |
| InnoScience Technology Holding | 2577.HK | -12.2% |
| Eastroc Beverage Group | 9980.HK | -11.1% |
| Sectors | ||
| Technology | 8.5% | |
| Health Care | 2.2% | |
| Industrials | 1.4% | |
| Consumer Discretionary | -1.8% | |
| Financials | -5.6% | |
| Consumer Staples | -5.7% | |
| Materials | -11.4% | |
Renaissance International IPO ETF (NYSE symbol: IPOS) tracks the Renaissance International IPO Index
The Renaissance International IPO Index returned 4.2% last week vs. 1.9% for the iShares MSCI ACWI ex U.S. ETF.
