International IPO Index: International markets stumbled this week, as the International IPO Index traded down -1.4%, and the MSCI ACWI fell -1.9%. The Index's best and worst performers both came from Hong Kong. Baijiu maker ZJLD surged +30.3% on news of its addition to the exchange's Stock Connect program, while liquid detergent maker Blue Moon Group fell -18.5%.
Big Development: Germany's IPO market has been largely dormant this year, but two big names are gearing up to list in the coming weeks. Medical glass producer SCHOTT Pharma announced plans to IPO by month-end in a deal that could raise over $860mm. Military vehicle part maker Renk is reportedly set to announce its $250mm IPO this month. Frankfurt has hosted just two notable IPOs this year so far.
Latest Listings: The only sizable IPOs this week were three China A-shares, which all traded up more than +110%.
The Week Ahead: Japanese private equity firm Integral is set to price its $120mm Tokyo IPO. More China A-shares will likely join the calendar throughout the week.
The Pipeline: Hong Kong had an active week, as US-based aircraft maker Cirrus Aircraft filed for an IPO in the city, delivery provider S.F. Holding added more bankers to its deal, cosmetics maker Jala Group weighed a listing, and Alibaba's Cloud Intelligence Group considered a pre-IPO funding round. In India, wire and cable maker RR Kabel filed for an IPO, while hotel owners Samhi Hotels and Oyo received regulatory approval for listing and rejigged management, respectively. In Oman, gas pipeline company OQ Gas Networks announced its intention to IPO. Australian mining equipment maker Molycop is reportedly meeting investors ahead of a potential Sydney listing.
Take care,
-Matt Kennedy, Senior Strategist
-Angelo Bochanis, Data Analyst
|
Biggest price changes through
Sep 8th
in the
Renaissance International IPO Index
|
||
|---|---|---|
| Top 5 | ||
| ZJLD Group | 6979.HK | 30.3% |
| Monde Nissin | MONDE.PM | 14.3% |
| Hygeia Healthcare | 6078.HK | 9.0% |
| Trimegah Bangun Persada | NCKL.IJ | 7.6% |
| InPost | INPST.NA | 7.5% |
| Bottom 5 | ||
| Blue Moon Group Holdings | 6993.HK | -18.5% |
| Azelis Holding | AZE.BB | -10.3% |
| Socionext | 6526.JP | -10.2% |
| Oxford Nanopore Technologies | ONT.LN | -9.9% |
| Shanghai MicroPort MedBot Group | 2252.HK | -9.7% |
| Sectors | ||
| Consumer Staples | 6.4% | |
| Energy | 2.7% | |
| Real Estate | 1.0% | |
| Industrials | 0.4% | |
| Materials | -0.7% | |
| Consumer Discretionary | -0.7% | |
| Utilities | -1.5% | |
| Technology | -1.7% | |
| Financials | -2.8% | |
| Health Care | -3.7% | |
Renaissance International IPO ETF (NYSE symbol: IPOS) tracks the Renaissance International IPO Index
The Renaissance International IPO Index returned -1.4% last week vs. -1.9% for the iShares MSCI ACWI ex U.S. ETF.
