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Birkenstock prepares one of the largest consumer discretionary IPOs of the past 20 years

BIRK

Consumer IPOs have been a mini-theme of 2023, which is set to continue next week with Birkenstock (BIRK). The sandal maker is planning to raise $1.5 billion in one of the largest consumer discretionary IPOs of the past two decades. In the past 20 years, only nine consumer discretionary IPOs have raised $1+ billion. At $1.5 billion, Birkenstock would be the...read more

US IPO Weekly Recap: September IPO roster gets a boost as Arm, Instacart, and other large filers join the pipeline

ARM

The IPO calendar was quiet this past week, but the pipeline got a boost from several large deals. UK-based chip designer Arm (ARM) and grocery delivery platform Instacart (CART) led the week’s news, filing for IPOs that we estimate could raise up to $6 billion and $1 billion, respectively. Arm is expected to headline the 2023 IPO market,...read more

How does Kenvue’s debut stack up against past billion-dollar IPOs?

KVUE

J&J spin-off Kenvue (KVUE) dominated headlines last week, raising $3.8 billion in the largest US IPO since 2021, and the sixth-largest deal of the past 10 years. In many ways, Kenvue stands alone among the largest IPOs of the past decade: A mature, profitable business going public in a challenging environment provides stark contrast to the fast-growing, highly...read more

Bulge to bust: Bulge bracket banks have disappeared from the IPO market in the past year

NXT

The past year's global selloff has wreaked havoc among new issuers. Many large IPO candidates have paused offering plans indefinitely, and with the decline in large deals, bulge bracket investment banks have virtually disappeared from the IPO market. Bulge bracket banks have long been staples of the IPO process. Between 2018 and 2022, the top three – Goldman Sachs, Morgan...read more