Despite expectations of some major post-Thanksgiving launches, just two small Asian issuers listed in the US this past week. Hong Kong-based financial services firm Garden Stage (GSIW) offered more shares and priced at the low end to raise $10 million at a $64 million market cap. Through its subsidiaries, the company provides placement and underwriting services,...read more
Eleven US IPOs raised a combined $708 million in November, well below the month's historical 10-year average (16 IPOs, $4.2B). Deal flow was led by three sizable issuers, and remaining activity came from smaller companies, all of which raised $33 million or less. The month's IPOs averaged a weak -22% return from offer, and only two deals finished above issue, both of which raised...read more
Fenbo Holdings, a Hong Kong-based manufacturer of electrical hair styling products, raised $5 million by offering 1 million shares at $5, as expected. Through its operating subsidiaries, Fenbo makes personal care electric appliances, acting as both an original equipment manufacturer (OEM) and original design manufacturer (ODM). It primarily generates revenue from flat irons and...read more
Five IPOs raised a combined $5.4 billion this past week, led by the blockbuster IPO of Arm (ARM). Three issuers submitted initial filings. The largest IPO of 2023 so far, Arm priced at the top of the range to raise $4.9 billion at a $52.9 billion market cap. Arm is an industry leader in central processing units (CPUs), stating that its...read more
US IPO Weekly Recap: November IPO market ends with more small deals
Despite expectations of some major post-Thanksgiving launches, just two small Asian issuers listed in the US this past week. Hong Kong-based financial services firm Garden Stage (GSIW) offered more shares and priced at the low end to raise $10 million at a $64 million market cap. Through its subsidiaries, the company provides placement and underwriting services,...read more
Renaissance Capital's November IPO Market Update
Eleven US IPOs raised a combined $708 million in November, well below the month's historical 10-year average (16 IPOs, $4.2B). Deal flow was led by three sizable issuers, and remaining activity came from smaller companies, all of which raised $33 million or less. The month's IPOs averaged a weak -22% return from offer, and only two deals finished above issue, both of which raised...read more
Hong Kong-based hair appliance maker Fenbo Holdings prices US IPO at $5
Fenbo Holdings, a Hong Kong-based manufacturer of electrical hair styling products, raised $5 million by offering 1 million shares at $5, as expected. Through its operating subsidiaries, Fenbo makes personal care electric appliances, acting as both an original equipment manufacturer (OEM) and original design manufacturer (ODM). It primarily generates revenue from flat irons and...read more
US IPO Weekly Recap: Arm trades up after raising nearly $5 billion in 2023’s largest IPO to date
Five IPOs raised a combined $5.4 billion this past week, led by the blockbuster IPO of Arm (ARM). Three issuers submitted initial filings. The largest IPO of 2023 so far, Arm priced at the top of the range to raise $4.9 billion at a $52.9 billion market cap. Arm is an industry leader in central processing units (CPUs), stating that its...read more