There are currently four listings scheduled for the coming week, but some smaller issuers may join the calendar throughout this week.
Enterprise data management and security platform rubric (RBRK) plans to raise $679 million at a market cap of $6.1 billion. The company's Rubrik Security Cloud platform provides a cloud-native SaaS platform that detects, analyzes and remediates data security risks and unauthorized user activity. The platform is used across a wide range of industries and geographies, and as of January 31, 2024, Rubrik has over 6,100 customers. Although the company has significantly expanded subscriptions and gained a stable customer base, profitability remains very low.
Commodity brokers and trading service providers marex group (MRX) plans to raise $300 million at a market cap of $1.5 billion. The company's operations are organized into five segments: Clearing, Agency & Execution, Market Making, Hedging & Investment Solutions, and Corporate. Marex offers connectivity to 58 exchanges, had a base of over 4,000 clients as of December 31, 2023, executed approximately 129 million trades in 2023, and executed approximately 856 million trades in 2023. Settled 10,000 contracts. It holds a leading position among the global commodity brokers in the industry. It is characterized by difficult to predict trading volume and volatility.
Niche aerospace and defense parts manufacturer lower holdings (LOAR) plans to raise $275 million at a market cap of $2.2 billion. Loar specializes in the design, manufacture and sale of niche aerospace and defense components for aircraft and aerospace and defense systems. The company's products span a variety of applications supporting nearly every major aircraft platform in use today and include autothrottle, temperature and fluid sensors and switches, and RAM air components, among others. The company benefits from strong tailwinds from defense spending, but the impact is significant.
Hong Kong-based trading platform provider mF International (MFI) plans to raise $7 million at a market cap of $59 million. The company has a trading platform and currently has an average monthly trading volume of over $100 billion.
| US IPO Calendar | |||
|---|---|---|---|
| Issuer work |
transaction size Market capitalization |
Price range Submission of shares |
Up book runner |
| mF International (MFI) hong kong, china |
7 million dollars $59 million |
$4 – $5 1,560,000 |
joseph stone |
| Trading platform provider based in Hong Kong. | |||
| Marex Group (MRX) london, united kingdom |
300 million dollars $1.457 billion |
$18 – $21 15,384,615 |
barclays goldman |
| British commodity broker and trading services company. | |||
| Rubric (RBRK) Palo Alto, California |
$679 million $6.114 billion |
$28 – $31 23,000,000 |
goldman barclays |
| Provides a hybrid cloud data management and security platform for enterprises. | |||
| LOAR Holdings (LOAR) White Plains, New York |
$275 million $2.2 billion |
$24 – $26 11,000,000 |
jeffries morgan stanley |
| Manufactures niche aerospace and defense components. | |||
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Street checks of the three companies are scheduled within the next week, and the lock-up period for the three companies will end. Sign up for a free trial of IPO Pro to access street research and lockup expiration dates.
IPO market snapshot
The Renaissance IPO Index is a market-capitalization-weighted basket of newly public companies. As of April 18, 2024, the Renaissance IPO Index was down 1.3% year-to-date, while the S&P 500 was up 5.5%. His IPO ETF (NYSE: IPO) from Renaissance Capital tracks the index, and top ETF holdings include Kenvue (KVUE) and Nu Holdings (NU). The Renaissance International IPO Index has fallen 2.6% since the beginning of the year, while ACWX has risen 1.0%. Renaissance Capital's International IPO ETF (NYSE: IPOS) tracks an index, and top ETF holdings include Porsche and Valito Renewable Energy.
