IPO news covering initial public offerings, stock market debuts, SPAC mergers, and companies going public on exchanges.
Private equity firms are increasingly conducting follow-on offerings and compressing lock-up periods to offload shares shortly after their portfolio companies' IPOs. For example, Forgent completed three follow-on offerings within its 180-day lock-up window, allowing sponsor Neos to reduce its voting power from 81% to below 50% in five months.
Latigo Biotherapeutics, a clinical-stage developer of non-opioid pain medicines backed by Blue Owl Capital, filed for an initial public offering. Its late-stage drug candidate showed 50% greater analgesic effect than Vicodin. The filing comes as biotech IPOs resume after a seven-month dry spell.
BASF SE has asked banks to submit proposals for an IPO of its Agricultural Solutions division in Frankfurt, which could be valued at €20 billion.
The commentary argues that the London IPO market is performing better than commonly perceived, suggesting that negative sentiment may be overstated. It contends that underlying fundamentals remain strong and that recent listings, while fewer, have been of higher quality.
Shein has received approval from the Hong Kong stock exchange listing committee for its IPO, according to three sources. The listing is expected to be one of Hong Kong's most closely watched in years, following stalled attempts in New York and London.
Aliko Dangote has nearly completed a $2.5 billion private share placement for his refinery business, Dangote Petroleum Refinery & Petrochemicals FZE, selling up to a 6% stake. The deal values the refinery at about $40 billion, ahead of what is expected to be Africa's largest IPO.
Indonesian coffee chain Kopi Kenangan, backed by Serena Williams and Jay-Z, has held early-stage talks with banks for a potential IPO that could value it at up to $1.0 billion. The company, founded in 2017, has over 1,300 locations across six countries and reported 2025 net revenue of $184 million with net profit of $17 million.
Zepto Ltd. is seeking an IPO valuation sharply below its $7 billion peak, with foreign investors indicating interest at about $4.5 billion and domestic investors valuing it between $3 billion and $3.5 billion. Concerns over cash burn are tempering optimism around the fast-delivery industry and raising questions about Zepto's path to profitability.
Amundi SA expects a net capital gain of about €300 million from the IPO of its Indian asset management joint venture SBI Funds Management. The company is selling 3.7% of the venture, with shares priced at the top of the range. Trading starts Tuesday.
Manipal Health Enterprises Ltd. is targeting a valuation of about 800 billion rupees ($8.3 billion) in its upcoming IPO, lower than earlier expectations. The company plans to raise up to 110 billion rupees through the share sale, likely launching the week of July 27.