"Golden" placement in Hong Kong and mega deal in Europe: the main thing about IPO by September 21

Swedish security company Verisure is preparing Europe's biggest IPO since Porsche went public three years ago. Chinese gold miner Zijin Gold is set to launch a $3.2 billion IPO in Hong Kong next week - the world's largest since Ma. Shares of cybersecurity platform operator Netskope soared 18% in debut trading on the Nasdaq. The main events in the IPO market during the week are in our selection.

- Security company Verisure, which does business in 17 European and Latin American countries, plans to raise about 3.1 billion euros in an IPO in Stockholm. The listing will take place in the next few weeks, company head Austin Lally told Bloomberg. If the offering goes through, it would be the largest in Europe since Porsche went public in 2022. Verisure's credit ratings are currently four notches below investment grade, but Moody's Investors Service and Standard & Poor's have assigned them a "positive" outlook, indicating a possible upgrade.

- Chinese gold miner Zijin Gold announced plans to launch a $3.2 billion IPO in Hong Kong next week. At that size, it would be the largest offering in the world since Ma and the most on the Hong Kong Stock Exchange in four years. The company will sell about 349 million securities at HK$71.59. Trading of Zijin Gold shares on the exchange will begin on Sept. 29. The company is looking to capitalize on the surge in gold prices, which have jumped nearly 40 percent since the start of 2025. Zijin Gold is a wholly owned subsidiary of Zijin Mining and operates all of the holding's gold mines outside China. "Anchor" investors said they were ready to buy the company's securities for $1.6 billion.

- Swedish investment giant EQT AB is considering a $1 billion or more IPO in the U.S. of waste management company Reworld, Bloomberg reported, citing sources. The listing could take place in 2026, they said. Reworld serves more than 100 municipal, residential, commercial and industrial facilities in North America. Singapore's sovereign wealth fund GIC acquired a 25% stake in the company in 2024, the price of the deal was not disclosed.

- China's largest car exporter Chery Automobile has decided to raise up to HK$9.1 billion ($1.2 billion) in an IPO in Hong Kong. According to the offering prospectus published this week, the company intends to list 297.4 million shares at a price range of HK$27.75 to HK$30.75. Trading is scheduled to begin on September 25. The peculiarity of Chery offering is the absence of Wall Street banks among the organizers of the deal. Lead coordinators of the IPO are China International Capital, Huatai Securities, GF Securities and Citic Securities. Chery assembles Jaguar and Land Rover cars at plants in China. The company plans to use the raised funds for R&D, expansion of international presence and modernization of production facilities.

- UK-based SumUp, a maker of card-reading terminals, is considering entering the stock market in London or New York with a valuation of up to $15 billion, the Financial Times reported, citing sources. The fintech company is already in talks with investment banks about an IPO in 2026, they said. One of the fundraising goals will be to buy competitors: SumUp believes that the payment processing market, especially in Europe, is ready for consolidation, said one of the FT interlocutors.

- German prosthetic manufacturer Ottobock, which traces its history back to 1919, has filed for an IPO in Frankfurt. The offering will consist of shares in the company's sole owner, the billionaire Neder family, and new shares worth around €100 million. Ottobock's previous attempt to go public in 2022 was canceled due to the collapse of the markets. The Neder family consolidated 100 percent of the company's shares in 2024 by buying a 20 percent stake from investment group EQT. During the transaction, the company was valued at €5.5 billion.

- Shares of US Netskope, a developer of cloud-based cybersecurity solutions, jumped 18% on the day of its debut after its IPO on Nasdaq. The offering was at the upper end of an elevated price range of $17-19 per share. The company offers enterprises a cloud-based platform called Netskope One that uses artificial intelligence to protect against cyber threats and data breaches. Its customers include Colgate-Palmolive, Home Depot and Bayer.

- Shares of WaterBridge Infrastructure, one of the largest players in the market of wastewater disposal from shale oil fields in the US, jumped 14% in the debut trading after listing on the New York Stock Exchange. WaterBridge raised $634 million in its IPO. Strong demand allowed the company to increase the number of outstanding shares from 27 million to 31.7 million and to offer them at $20 per share, the upper limit of the announced price range.

- Quotes of ticketing platform StubHub collapsed by 6.4% on the day of listing on the New York Stock Exchange. The company raised $800 million by selling 34 million shares at $23.5 apiece with an initially announced offering range of $22-25. According to Bloomberg, StubHub's order book was oversubscribed multiple times during the bookbuild. The company has been aiming for an IPO since at least 2022, but has postponed it several times.

- Online classifieds site operator Swiss Marketplace Group (SMG) has raised CHF903 million ($1.1 billion) in an IPO in Zurich. The company listed 19.6 million shares at 46 francs per paper, the upper end of its stated range. At the opening of trading on the day of the listing, SMG's stock jumped nearly 9%, but then corrected. SMG operates real estate websites including Homegate and ImmoScout24, as well as automotive marketplace AutoScout24. According to Reuters, the IPO attracted Swiss and international investors and the order book was oversubscribed multiple times.

- US online consumer goods retailer Pattern, one of the largest sellers on Amazon, has raised $300m in an IPO on Nasdaq. The reseller and its shareholders sold 21.43 million shares at $14 apiece - the middle of its stated price range. That brought Pattern's capitalization to about $2.5 billion - a quarter above the valuation at the 2021 investment round. The stock began trading at $13.5 on the first day of trading on Sept. 19 and closed at $15.63, 11.64% above the offering price.

- The U.S. Federal Reserve's long-awaited rate cut will make for a "very busy" Wall Street IPO calendar in October, said West Riggs, head of equity capital markets at Truist Securities. The regulator's decision this week has removed the uncertainty that had kept companies from going public, he said. Bloomberg calculates that 14 companies (not counting SPACs, REITs and closed-end investment funds) have raised $7 billion in U.S. IPOs since the beginning of September. That's the highest since 2020. If the market holds up, the number of meaningful listings in October could surpass the September result, Riggs predicts.

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