So far this year, 13 companies have gone public via direct listing, marking the biggest year ever for the IPO alternative. Nearly half have come to market in the past two months. But the year’s direct listings average a dismal -71% return from first trade,...read more
Two multibillion-dollar names joined the pipeline in the final week of the IPO market’s summer doldrums. SoftBank-backed power and data center developer SB Energy (SBE) signals that the dominant theme of the 2026 IPO market, AI infrastructure, will...read more
TurboGen, an Israeli developer of microturbine-based CHP energy systems, completed its direct listing on the Nasdaq. The company issued a press release on Monday, 8/31 stating that its shares would begin trading that day, but no shares traded. Its shares are...read more
Two IPOs, one direct listing, and three SPACs came to the market this past week, and one major issuer joined the pipeline. PayPay (PAYP) priced its IPO below the range to raise $880 million at a $10.8 billion diluted market cap. Backed by SoftBank, PayPay is ...read more
Direct listings are having a record year, but performance tells a different story
So far this year, 13 companies have gone public via direct listing, marking the biggest year ever for the IPO alternative. Nearly half have come to market in the past two months. But the year’s direct listings average a dismal -71% return from first trade,...read more
US IPO Weekly Recap: SB Energy and Oura headline a pickup in filings
Two multibillion-dollar names joined the pipeline in the final week of the IPO market’s summer doldrums. SoftBank-backed power and data center developer SB Energy (SBE) signals that the dominant theme of the 2026 IPO market, AI infrastructure, will...read more
Tel Aviv-listed microturbine developer TurboGen announces completion of direct listing on the Nasdaq
TurboGen, an Israeli developer of microturbine-based CHP energy systems, completed its direct listing on the Nasdaq. The company issued a press release on Monday, 8/31 stating that its shares would begin trading that day, but no shares traded. Its shares are...read more
US IPO Weekly Recap: PayPay prices US IPO below the range but climbs 32%
Two IPOs, one direct listing, and three SPACs came to the market this past week, and one major issuer joined the pipeline. PayPay (PAYP) priced its IPO below the range to raise $880 million at a $10.8 billion diluted market cap. Backed by SoftBank, PayPay is ...read more