DeepSeek Is Preparing for Its IPO, Shein Has Reached an Agreement with the Regulator: Key Updates on IPOs by July 19

DeepSeek, a Chinese artificial intelligence developer, has begun preparations for an IPO, which could take place in 2027. Anthropic is holding meetings with potential investors and is preparing to go public in October. Online retailer Shein has received regulatory approval and expects to hold its IPO as early as late August. Check out our roundup of the week’s top events in the IPO market.

— DeepSeek, a Chinese artificial intelligence developer, has begun preparations for an IPO on the mainland market and may file its application as early as this year, with plans to go public in 2027, according to Bloomberg sources. Before going public, the company aims to raise at least 10 billion yuan ($1.5 billion) at a valuation of 480 billion yuan ($71 billion). Following a June funding round worth over $7 billion involving Tencent, CATL, and other investors, DeepSeek was valued at approximately $50 billion. According to the agency, DeepSeek expects to finalize its financial statements by the end of December, and the timing of the IPO will depend on the readiness of the documents, market conditions, and business performance.

— Anthropic, an artificial intelligence developer, has begun holding meetings with potential investors ahead of its anticipated IPO, according to Bloomberg sources. The news agency reports that the company could go public as early as October, ahead of OpenAI and DeepSeek, which are also preparing for IPOs. As reported by The Information, Anthropic is simultaneously negotiating with banks for multibillion-dollar credit lines ahead of the IPO. Following its May funding round, the company is valued at $965 billion. The final timing of the offering is still subject to change.

— Online retailer Shein has received approval from the Hong Kong Stock Exchange’s listing committee to proceed with an IPO, according to sources cited by Reuters. The company plans to publish its prospectus during the week beginning July 27 and could go public as early as late August, although the timing and terms of the deal are still subject to change. According to the agency, Shein has already begun meeting with investors and is aiming for a valuation of $40–50 billion. By comparison, during a funding round in 2022, the company was valued at $100 billion.

— China’s Syngenta Group, owned by Sinochem, has postponed plans for a $5 billion IPO in Hong Kong due to unfavorable conditions in the agricultural sector, according to Bloomberg sources. The company, which had previously expected to file in June and go public this year, now plans to do so no earlier than September, though 2027 is considered a more likely timeline for the offering. According to the agency, the timeline may also be affected by additional approvals from regulators. Syngenta had previously attempted to list on the Shanghai Stock Exchange but withdrew its application in 2024, citing market volatility.

— Chinese memory chip manufacturer CXMT raised $9.8 billion in its IPO—the second-largest in the country’s history after the Agricultural Bank of China’s offering in 2010, Bloomberg reported, citing company documents. The retail portion of the offering was oversubscribed 212 times even after the shares were reallocated, with applications submitted by approximately 9.4 million investors. The company was valued at 580 billion yuan ($81 billion), though analysts note that the relatively low valuation leaves room for the stock price to rise after its debut.

— Csquare, a data center provider backed by Brookfield, closed its first day of trading on the New York Stock Exchange down 1.6%, with a market capitalization of $3.2 billion. The company priced its shares at $21—below the announced range of $23–27—which, according to analysts at IPOX Research, reflects investor caution: despite high demand for AI infrastructure, the market remains selective in its assessment of new offerings.

— The number of IPOs by small foreign companies in the U.S. has dropped sharply after regulators stepped up their crackdown on fraudulent “pump-and-dump” schemes — the artificial inflation of stock prices followed by a sell-off — which, according to authorities, were most often linked to Asian issuers. According to Bloomberg, since the start of the year, there have been only 13 micro-cap IPOs on the Nasdaq and NYSE, compared with nearly 80 during the same period in 2025, and there were only two Asian issuers. This decline was driven by stricter Nasdaq listing rules, increased oversight by the U.S. Securities and Exchange Commission (SEC) and the self-regulatory organization FINRA, as well as the suspension of trading in the shares of several foreign companies due to suspicions of market manipulation via social media.

— Several British companies, including Waterstones and the payment service SumUp, may postpone their IPOs in London until next year, according to sources cited by Bloomberg. They had originally planned to go public in the second half of 2026, but are now considering postponing their offerings due to uncertain market conditions and the need to complete internal preparations. The expected change in the UK government is creating additional uncertainty. At the same time, the agency notes that final decisions have not yet been made, and under favorable conditions, some issuers may still proceed with their IPOs this fall.

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