Nvidia competitor doesn't go public and listing of the year in Europe: what's important about IPOs by Oct. 5

Chip developer Cerebras, which competes with Nvidia, has withdrawn its IPO application days after a new funding round. European security company Verisure will next week launch Europe's biggest IPO since the start of 2025. Shares in Trump's would-be nuclear power plant operator soared in debut trading in New York. The British cabinet is preparing to abolish a trading tax on shares of newly listed companies to revitalize London's listing market. The main events on the IPO market during the week are in our selection.

- Security company Verisure is targeting a €13.9bn valuation in Europe's biggest IPO in three years. It plans to list 245 million shares on the Stockholm stock exchange in a price range of €12.25-13.5 and raise up to €3.1bn. Anchor investors including Singaporean sovereign wealth fund GIC and Swedish pension fund Alecta have agreed to buy €1.4bn worth of securities. Verisure's listing follows Noba Bank's successful Stockholm debut and the mixed results of SMG Swiss Marketplace in September. The company's shares will begin trading on October 8 on the Nasdaq Stockholm exchange under the ticker VSURE.

- The Indian unit of LG Electronics is set to IPO on October 7 and expects a valuation of 774 billion rupees ($8.7 billion). The South Korean company is offering 101.8 million shares (15% of the authorized capital) of its subsidiary at a price ranging from Rs. 1,080 to Rs. 1,140 per paper. If placed at the upper end of this range, LG India will raise $1.3 billion and become the largest home appliance maker by market value in the country's market, Bloomberg calculated. LG India's IPO is the fourth over billion-dollar offering in India in 2025, along with HDB Financial Services, Hexaware Technologies and Tata Capital.

- IPO of non-banking credit organization Tata Capital for $1.7 billion attracted a wide range of anchor investors - from Morgan Stanley, Goldman Sachs and White Oak to local funds, Bloomberg writes citing sources. According to them, nine of the 10 largest Indian mutual funds participated in the offering. Acceptance of applications from the general public will be held on October 6-8. The price range is set at Rs. 310-326 per share. Thus, the valuation of Tata Capital may reach 1.4 trillion rupees ($15.7 billion), according to Bloomberg. The shares are scheduled to start trading on October 13.

- Artificial intelligence processor developer Cerebras Systems, which competes with Nvidia in the fast-growing chip market, has withdrawn its IPO filing from a year ago. The company told the Securities and Exchange Commission that it "does not intend to pursue the announced offering at this time." Cerebras had planned to list its shares on the Nasdaq exchange. On Sept. 30, days before the IPO application was withdrawn, the company raised $1.1 billion in new financing. The deal valued investors at $8.1 billion.

- Shares in Fermi, a startup founded by former U.S. Energy Secretary Rick Perry that plans to build a nuclear power plant "named after Donald Trump" in Texas, soared 55% on the first day of trading after its IPO in New York. Fermi sold 32.5 million shares, placing them at $21 with a stated range of $18 to $22. The company's market value at the end of the debut trading was $19.3 billion. Fermi was founded in January 2025 as a real estate investment trust (REIT). The startup has leased a plot of land from the University of Texas and intends to attract large AI data center operators to the site, promising to provide them with electricity from future power plants. By the end of 2026, Fermi plans to have up to one gigawatt of natural gas-fired power in operation, and by 2031, it plans to have the first of four nuclear power plant reactors up and running.

- The securities of Neptune Insurance, which specializes in flood damage insurance in the US, rose 24% on the first day of trading after listing. The company placed shares for $368 mln at the upper limit of the announced price range - $20 per unit. Bookbuilding demand for Neptune Insurance shares exceeded the offered volume by more than 20 times, and demand from long-only funds more than quadrupled. Neptune Insurance does not assume insurance risks, earning commissions on sales of partner insurers' policies. The company claims that through the use of AI, it is able to assess risks and generate a proposal for customers in seconds.

- Quotes of gold miner Zijin Gold soared 68% in the debut trading in Hong Kong after the world's largest IPO since Ma. As a result, its market value reached 316.5 billion Hong Kong dollars ($ 41 billion), surpassing the capitalization of Chilean Antofagasta, one of the key producers of copper. "China's mining subsidiary Zijin Mining, which operates all of the holding's gold mines outside of China, raised $3.2 billion. The company plans to use part of the IPO proceeds to buy the Raigorodok gold mine in Kazakhstan for $1.2 billion and to develop mining projects over the next five years.

- Stockholm has unexpectedly become the most popular place for companies to go public in Europe. The total volume of IPOs held in the Swedish capital in 2025 may reach $6.8 billion - more than in any other EU city, writes Bloomberg. The Swedish stock market is three times smaller than the British one, but now it is the fifth most popular place in the world for listings after the U.S., China, Hong Kong and India, the agency notes.

- The UK authorities are preparing to exempt shares in new public companies from the trading tax, the so-called stamp duty, the Financial Times has learned. This may be announced in November, the newspaper's sources say. The measure is designed to revitalize the UK IPO market, which has fallen to a record low in 2025. The prospect of paying a 0.5% levy on share deals scares off investors, especially retail investors, the paper said.

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