International IPO Index Surges 1.9% on Strong Listings
By IPO Desk
The Renaissance International IPO Index rose 1.9% this week, driven by strong debuts like India’s SBI Funds Management and Hong Kong’s Montage Technology.
The international IPO market saw signs of stabilization this week, with the Renaissance International IPO Index rising by 1.9%. The ACXW ex-US ETF also increased modestly by 0.1%.
Hong Kong-listed chip designer Montage Technology surged by 30.4%, making it a top performer. Conversely, Istanbul-listed factoring services provider Destek Faktoring declined another 18.8%, marking its second consecutive week as the biggest loser.
Key Recent Debuts
India’s largest listing of the year, asset manager SBI Funds Management, debuted with a 2% gain on its $1.0 billion offering. Canadian gold miner Cadillac Mines also rose 3% on its $260 million IPO.
Tokyo-listed autonomous driving software firm TIER IV saw a 2% rise on its $140 million offering. Two China A-share IPOs also commenced trading and experienced gains.
Asia’s Upcoming IPO Giants
Asia is preparing for two of its largest listings by 2026. Shanghai-based chipmaker CXMT is set for an $8.5 billion IPO, which would be the largest A-share offering in over 16 years.
Mainland-listed optical module maker Zhongji Innolight is scheduled for a $7.0 billion listing in Hong Kong. This would be the largest offering there since 2019.
India’s Active Pipeline
India anticipates debuts from industrial parts maker Indo-MIM, valued at $390 million, and textile equipment maker Lohia, with a $110 million offering. The pipeline remains active with several other major Indian companies preparing for listings.
Upcoming Indian deals include hospital operator Manipal Hospitals at $940 million and dairy products maker Milky Mist. Electric utility Mahavitaran, adtech InMobi, and Hindustan Coca-Cola are also preparing for public offerings.
Global Horizon
Telecom firm Unitel is slated for a rare Angolan IPO valued at $310 million. Hong Kong is also gearing up for more tech IPOs, including humanoid robot maker AgiBot, GPU maker MetaX, and AI model developer Moonshot AI.
Further international listings include Africa-focused fintech Airtel Money in London and US-based cybersecurity firm Point Wild in Australia.