Figma's record, Klarna and SpaceX competitors go public: what's important about the IPO by Aug. 3

Shares of Figma, a service for designers that competes with Adobe, soared 250% at the debut trading in New York. Against the background of such excitement, the Swedish installment service Klarna resumed its preparations for IPO. In addition, two competitors of Ilon Musk's space company SpaceX are preparing to enter the stock exchanges in the United States and China. And the richest man in Asia wants to earn more than $6 billion for a 5% stake in his telecom company. The main events on the IPO market for the week - in our selection.

- Swedish payment service Klarna, one of the most expensive startups in Europe, has stepped up preparations for an IPO in New York and admits the possibility of going public as early as September, reported Bloomberg citing sources. A final decision on timing and other details has yet to be made, the sources said. Klarna filed for an IPO with the U.S. Securities and Exchange Commission (SEC) in March, planning to raise at least $1 billion at a valuation of more than $15 billion. Already in April, the company froze this plan - due to market turbulence caused by Donald Trump's duties. 

- US spacecraft and rocket developer Firefly Aerospace, backed by Northrop Grumman, has targeted a valuation of about $5.5 billion in its IPO. The startup reported that it plans to raise as much as $631.8 million on the exchange by offering 16.2 million shares at $35 to $39 per paper. Earlier in July, Firefly announced its intention to go public on the Nasdaq exchange under the ticker FLY. The company successfully successfully landed the first Blue Ghost lander on the moon in March 2025 and expects regular missions in the future. A few days ago, Firefly received a $177 million lunar contract from NASA. Under its terms, the company will use its Elytra transport vehicle and Blue Ghost landing module to deliver research equipment to the moon's south pole in 2029.

- Chinese rocket developer LandSpace Technology - another SpaceX competitor - has filed for an IPO in Shanghai. The company did not disclose how much money it wants to raise. LandSpace was the first in the world to launch a rocket powered by environmentally friendly and cheap methane into orbit in 2023, beating out Ilon Musk's SpaceX and Jeff Bezos's Blue Origin. The Chinese company successfully tested the first stage of its reusable Zhuque-3 rocket in June 2025. Its launch is scheduled for the second half of this year. LandSpace's investors include HongShan Venture Fund (formerly Sequoia Capital China), government agencies and large Chinese holdings.

- U.S. coffee chain Black Rock Coffee Bar has confidentially filed for an IPO in New York and expects a valuation of more than $1 billion, Reuters sources confirm. The company has enlisted investment banks JPMorgan Chase, Jefferies Financial and Morgan Stanley for the offering, they said; an IPO could come as early as this year. The Black Rock Coffee Bar chain has more than 150 outlets in seven U.S. states. A loyal audience allows the company to compete with Starbucks and other major players.

- American developer of cybersecurity solutions Armis, whose clients include United Airlines and Mondelez, has announced that it is preparing to go public in 2026. Shortly before that, the company raised $200 million in an investment round based on a $4.2 billion valuation of its business. The startup began considering an IPO more than a year ago, but until recently refrained from doing so in hopes of more favorable market conditions, notes Bloomberg.

- Holding Reliance Industries the richest man in India and Asia Mukesh Ambani is preparing for the IPO of telecom "subsidiary" Jio Infocomm and expects to raise more than $6 billion for just a 5% stake, reported Bloomberg citing sources. According to them, Reliance is asking the Indian regulator to make an exception to the general rule of floating at least 25% in free float. The company attributes its request to the insufficient depth of the Indian stock market for a larger listing. The IPO of Jio Infocomm may take place in 2026 and become the largest in the country's history. В числе инвесторов Jio — Meta и Google, вложившиеся в нее в 2020 году.

- Air conditioner maker Aux Electric, one of China's largest, is preparing to launch an IPO in September, sources told Bloomberg. The company expects to raise between $600 million and $800 million on the Hong Kong exchange. At that size, the IPO would be one of the largest on the Hong Kong bourse in 2025 not involving a dual listing. Aux Electric is part of diversified holding company Aux Group and plans to use some of the funds to set up R&D centers in Europe, the Americas and other regions.

- Shares of Figma Figma have soared by a record 250% on the first day after its IPO on the New York Stock Exchange. According to Renaissance Capital, the U.S. market has never seen such strong growth in the debut trading among large IPOs: the previous record of 168% was set by the issuer Circle Internet Group two months ago, and before that - the manufacturer of portable devices Palm in 2000 (+150%). The debut trading in Figma shares started at $85, which was already one and a half times the IPO price, and the volatility during the day forced the exchange to temporarily suspend transactions. At the start of trading capitalization of Figma exceeded $45 billion - this is 2.3 times more than for the company offered Adobe three years ago.

- Shares of US developer of energy-efficient chips Ambiq Micro doubled in the debut trading after IPO on NYSE. The papers closed early trading at $38.53 at the offering price of $24 per share. Ambiq's major customers are Google, Garmin and Huawei, accounting for more than 85% of annual revenue. The company specializes in chips for wearable devices and expects to expand its business with new solutions for smart glasses and other artificial intelligence-based gadgets;

- Unlike Figma and Ambiq Micro, shoulder implant maker Shoulder Innovations, which debuted on the New York Stock Exchange, was virtually flat on the first day of trading after listing, up 0.3% from its IPO price. Investors took a cool attitude to the listing of Shoulder Innovations: due to low demand the company had to place shares at $15 per paper with an initial target of $19-21.

- India's largest conglomerate Tata Sons is likely to shy away from a mandatory IPO designed to increase transparency for the privately held group, the Financial Times reported. According to the newspaper's sources, Tata Sons has not yet taken active steps to prepare for a listing, despite the Reserve Bank of India's demand for a flotation by the end of September. Several interlocutors told the FT that Tata is hoping for a postponement of the deadline or even an exemption from the obligation to go public. Tata Sons has more than 95% of its net assets in investments and loans to subsidiaries and related entities. It owns stakes in India's largest companies, including Air India and Jaguar Land Rover owner Tata Motors. Потенциальная рыночная стоимость Tata Sons, по разным оценкам, составляет $93-127 млрд.

- Shareholders of fintech company Wise voted to move its main listing from London to New York. Wise's management explained the move to the New York exchange as a desire to increase liquidity and broaden the investor base amid declining interest in London-listed companies. The decision was adopted by an overwhelming majority of votes. At the same time, shareholders approved a 10-year extension of the two-tier share structure with increased voting power for the founders. This was opposed by Wise co-founder Taavet Hinrikus, who feared the consolidation of shareholder power over Wise in the hands of CEO Christo Kärmann. Among the supporters of the release is venture capital fund Andreessen Horowitz, a top-10 shareholder of Wise.

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