IPO News – International IPO Weekly Winners & Losers

International IPO Index: International new stocks outperformed this week, as the Renaissance International IPO Index rose +4.4%, while the ACWX ex-US ETF gained +2.9%. Hong Kong-listed LLM developer Minimax surged +41.5% after launching a new model to lead the pack for a second straight week, while Stockholm-listed security systems provider Verisure was the worst performer, off -10.9%.

Big Development: Humanoid robotics developer Unitree Robotics ($900mm) launched its highly-anticipated Shanghai STAR IPO this week. The deal comes amid an active couple of months for Chinese AI and robotics listings, with more robot developers readying IPOs in the pipeline.

Latest Listings: India’s IPO market got a vote of confidence this week, as hospital operator Manipal Hospitals ($970mm) rose +15%, and renewable power producer Juniper Green Energy ($190mm) traded up +11%. In Vietnam, electronics retailer Dien May Xanh ($510mm) inched up +5%. Three $100mm+ China A-shares also debuted, and all surged over +70%.

The Week Ahead: The international calendar is quieting down as the August lull sets in. The sole sizable listing scheduled for next week is warehouse equipment provider Leap India ($250mm).

The Pipeline: Additional launches in India came from electric components producer Dhoot Transmission ($310mm), logistics platform Shiprocket ($170mm), and dairy products maker Milky Mist ($160mm).

In Hong Kong, fast fashion giant SHEIN is gauging investor interest for its planned IPO, while AI agent provider Evoken, robot developer X Square Robot, and 3D model sharing platform VAST are all working with banks on listings. Japan-based concrete producer Mitsubishi UBE Cement tapped underwriters for a Tokyo listing that could come in December. Taiwan-based cement producer TCC Group Holdings is planning a London listing of its European unit.