A company with investments from Trump's son and a competitor of Binance: the main thing about the IPO by July 20

Shares of "Amazon for guns" - GrabAGun, a company linked to Donald Trump Jr. - collapsed after a New York offering. Amid bitcoin's rally, two cryptocurrency players filed for IPOs at once: the Bullish exchange, one of whose investors is billionaire Peter Thiel, and investment company Grayscale. Booking s competitor Klook, a travel booking platform, as well as two mature companies with a long history and multi-billion dollar revenues - McGraw Hill and NIQ.

- The crypto exchange Bullish, one of whose investors is billionaire Peter Thiel, filed application for IPO on July 18. The company intends to trade on the New York Stock Exchange under the ticker BLSH. The application for placement says that the total trading volume of Bullish since its launch at the end of March exceeded $1.25 trillion, and its main competitors are Binance, Coinbase and Kraken. According to the document, the company posted a net loss of about $349 million in the first quarter of 2025 on sales of $80 million in digital assets.By comparison, a year earlier it recorded a net profit of $105 million on similar sales. Bullish is led by former New York Stock Exchange chairman Tom Farley and owns industry publication CoinDesk.  

- Cryptocurrency investment company Grayscale has filed for an IPO in the U.S. amid a bitcoin rally and a surge of interest in crypto assets from institutional investors. The offering could take place as early as this year, market conditions permitting, predicted Bloomberg. The application has been sent to the regulator in confidence, an approach that allows companies to minimize risk and get feedback before going public. Grayscale, founded in 2013, is known as one of the key players that achieved admission of bitcoin-ETFs to U.S. exchanges. It now manages more than $33 billion in assets, including the world's largest fund investing in bitcoin. 

- Travel booking platform Klook, backed by SoftBank and Goldman Sachs, is planning an IPO in the U.S. and could raise between $300 million and $500 million, wrote Bloomberg, citing sources. The company is already working with financial advisers and is preparing to file a confidential bid, according to the sources. The parameters of the offering and timing have not yet been determined. Founded in 2014, Klook reached "unicorn" status (as startups with a valuation of $1 billion or more are called) in 2018 and reached profitability in 2023. In June, the company raised $100 million in a round led by Vitruvian Partners. Klook competes with Booking.com, Expedia, Trip.com and South Korea's Yanolja;

- A supplier of glass panels for Apple and Samsung smartphones, Hong Kong-based Biel Crystal Manufactory is considering reviving plans to go public on the local bourse, sources told Bloomberg. It has already held preliminary consultations with financial advisers and could file by the end of the year. Biel Crystal tried to float shares in 2018 and 2021 but delayed the IPO due to market volatility. This time too, the decision is not final, and the company may pause the listing again, the agency points out Founded in 1989, it is among the world's largest touch glass makers, and the fortune of its founder Yung Kin-man is valued at more than $8 billion, according Bloomberg Billionaires Index.

- The founding family of German tank and military equipment maker KNDS is considering a partial sale of its stake through an IPO or a deal with a strategic investor, wrote Bloomberg, citing sources. Potential buyers include large private equity funds including KKR, Advent, CVC and Warburg Pincus, as well as Middle Eastern and German investors. The main option is a public offering in 2026, in which the company could be valued at €20 billion, but the exact amount will depend on demand and political factors. The sale would require the approval of the French government, which owns the other half of KNDS. In parallel, the possibility of a sale of minority stakes by both parties - about 10% of each - is being discussed. If the deal fails to materialize, the family may consider splitting KNDS, effectively undoing the 2015 merger of the two heavy military equipment makers. 

- US digital education platform and learning materials provider McGraw Hill plans to raise up to $537 million in an IPO and expects a valuation of about $4.2 billion, reports Reuters. The company has filed to offer 24.39 million shares at prices ranging from $19 to $22 apiece. McGraw Hill is owned by Platinum Equity, which bought it in 2021 from Apollo Global Management for $4.5 billion. The company has traded on the stock exchange before, but delisted in 2012 and unsuccessfully attempted a comeback in 2015. McGraw Hill grew revenue by 7% to more than $2 billion last year, and its materials are used by 99% of school districts and 82% of higher education institutions in the U.S., the filing said. The offering is scheduled to be listed on the New York Stock Exchange under the ticker MH.

- NIQ Global Intelligence, a company that specializes in analyzing consumer buying behavior, said it is preparing to list on the New York Stock Exchange under the ticker NIQ, reports MarketWatch. It expects to raise up to $1.2 billion by offering 50 million shares at prices ranging from $20 to $24. After the IPO, its market capitalization could reach $7.2 billion on last year's revenue of $3.97 billion, according to Reuters. NIQ serves clients such as Amazon, Coca-Cola and Meta with AI and cloud-based analytics. The company narrowed its net loss to $73.7 million in the first quarter of 2025, down from $173.9 million a year earlier. CEO Jim Peck said that over the past four years, NIQ has undergone a technological transformation and increased its focus on customer service. 

- Chinese AI developer MiniMax, backed by Alibaba and Tencent, has filed a confidential application for an IPO in Hong Kong, the WSJ reports citing sources. The company, which is valued at about $4 billion, expects to go public as early as this year - amid growing interest from local tech companies in the Hong Kong market due to geopolitical risks. MiniMax recently unveiled its M1 logic reasoning model, which the developer claims bypasses competitors and requires fewer computing resources. The company's M1 logic reasoning model is the first of its kind in Hong Kong;

- Chinese startup Unitree Robotics, known for humanoid robots and robot dogs, has begun preparations for an initial public offering, wrote Reuters, citing documents filed with the local regulator. According to the filing, the company is being advised by CITIC Securities as part of the preliminary phase, which will be completed in the fourth quarter. Unitree expects to capitalize on investor interest in humanoid robotics, an industry in which China is well positioned thanks to diversified supply chains and subsidies. The company has received 90 contracts from government agencies and universities worth more than 39 million yuan ($5.4 million) over the past five years, with more than half of that amount in the last year.

- Shares of GrabAGun, a company backed by Donald Trump Jr. have plummeted nearly 40 percent from its offering price since a failed debut on the New York Stock Exchange on July 16. The company entered the market through a merger with SPAC-owned Colombier Acquisition Corp. II, created specifically to take other companies public by bypassing the IPO process, a format now losing popularity and drawing skepticism from some investors, wrote Reuters. GrabAGun is positioning itself as an "Amazon for guns," offering online sales of firearms and accessories, and is banking on the younger generation. Despite the political heft of the Trump family, which helps their companies attract a loyal base of supporters, analysts question GrabAGun's ability to sustainably build market share. Инвесторы теперь сосредоточены на устойчивой бизнес-модели, а не на политической окрашенности бренда,

- Plans by Japan's Seven & i Holdings to list North American convenience store chain 7-Eleven on a U.S. exchange have come under scrutiny after Canada's Couche-Tard withdrew its $46 billion offer to buy the company, wrote Bloomberg. The listing was seen as a way to protect itself from an unwanted deal, but now analysts say it is no longer necessary. Some investors believe that 7-Eleven is Seven & i's "core value" and it is better to retain 100 percent ownership of the asset, the agency explains. Nevertheless, the Japanese company says plans for an IPO are still on track. If the offering goes through, it could raise more than 1 trillion yen (about $6.4 billion) and become one of the largest in the world. 

- Billionaire Ban Si-Heck - founder of South Korean music holding company Hybe, one of the "big four" agencies that operate in the K-pop industry - is at the center of an investigation for possibly misleading investors ahead of the company's IPO in 2020, wrote Bloomberg. According to the regulator's version, Hybe created the illusion of delaying the offering so that existing shareholders would sell their stakes to a special entity linked to the holding company's management. As a result, its founder may have earned about $137 million through a disguised profit-sharing deal, Bloomberg reports. Hybe said it respects the regulator's position and intends to restore market confidence. Hybe's IPO once raised $820 million; today its capitalization is roughly $8 billion. 

- The U.K. government will set up a special IPO task force to motivate more companies to list on the London Stock Exchange, Finance Minister Rachel Reeves said, she was quoted Bloomberg. The number and volume of offerings there fell sharply in the first half of 2025, with the platform posting its worst fundraising results in 28 years. The situation was affected, among other things, by a wave of takeovers and the transition of a number of British companies to U.S. exchanges, the agency explains. The exchange and regulators have already started reforms - they are planning to allow shares denominated not in pounds sterling to be included in British stock indices and simplify bureaucratic procedures for capital increase.

This article was AI-translated and verified by a human editor