SpaceX, Syngenta and the "software apocalypse": the main thing about IPOs by February 8

Elon Musk is pushing for accelerated inclusion of his space company SpaceX in major stock indexes after its IPO, and Nasdaq doesn't mind. Swiss agrochemical giant Syngenta resumed preparations to list for up to $10 billion. Norwegian software developer for accountants Visma and mobile advertising platform Liftoff Mobile changed their minds about going public in the midst of the "software apocalypse". The main events on the IPO market during the week are in our selection.

- Elon Musk's SpaceX is pushing for early inclusion in key stock indexes after its IPO, sources tell The Wall Street Journal. Typically, new issuers get into the S&P 500 or Nasdaq-100 months after their stock market debut. But SpaceX, which is teaming up with AI startup xAI, is talking to Nasdaq and other index operators about revising the rules. The space company would like faster access to capital in funds, especially those that mimic the performance of indexes, the newspaper found out. SpaceX aims to capitalize over $1 trillion. Its IPO may become the largest in history.

- Wall Street broker Clear Street said it intends to raise up to $1.05 billion in an IPO on Nasdaq, expecting to value the entire business at up to $11.8 billion. The company, led by ex-Cboe CEO Ed Tilley, will offer investors 23.8 million shares at a range of $40 to $44 per paper. Investment giant BlackRock will be the lead investor, ready to buy a stake worth up to $200 million. Clear Street, which started out in 2018 as a prime brokerage, has since branched out into investment banking and stock market analytics. Its revenue doubled to more than $1 billion in 2025.

- Swiss agrochemical giant Syngenta, part of Chinese holding ChemChina, has resumed preparations for an IPO. According to interlocutors of the Financial Times, the company has requested proposals from banks to organize a listing in Hong Kong in the amount of up to $10 billion. ChemChina acquired Syngenta in 2017 for $44 billion. In 2024, Syngenta abandoned plans to list in Shanghai, citing weak conditions and stricter regulation in China. The decision to change the site was made against the backdrop of the recovery of activity in Hong Kong, which became the world leader in 2025 in terms of placements.

- Investment company KKR has started preparations for the IPO in the United States owned by it cosmetics manufacturer Wella. The placement may take place in 2026, sources told Reuters. They believe that the capitalization of Wella will be much higher than $4.3 billion, in which the company was valued in 2020, when KKR bought a controlling stake in the concern Coty. Wella's portfolio includes the Wella Professionals, OPI, Briogeo, ghd and Clairol brands.

- The Board of Directors of Barrick Mining has approved the IPO of North American gold mining assets by the end of 2026. The world's second largest gold producer after Newmont plans to spin them off into a separate structure. According to the head of Barrick Mark Hill, from 10% to 15% of shares of the new company will be placed on the exchange. It will include Nevada Gold Mining, the deposit Fourmile in Nevada and the Dominican mine Pueblo Viejo, shares in which also owns Newmont. Barrick's quotes rose following the prices of precious metals, but the company's valuation lags behind its competitors, The Wall Street Journal writes. The separation of Barrick's North American operations from riskier projects in other regions is being pushed by activist investor Elliott Management, which recently consolidated a large stake in the mining giant.

- Polish manufacturer of combat drones WB Electronics has started preparations for an initial public offering in Warsaw, Bloomberg reported citing sources. The company itself claims that the decision on IPO has not been made yet. According to Bloomberg's interlocutors, the listing could take place in late 2026 or early next year. WB Electronics positions itself as the largest UAV manufacturer in the European Union. The company's business has grown multiples since the start of the military conflict in Ukraine. However, due to the strategic status of the company, its IPO requires the approval of the authorities. Another obstacle to entering the Warsaw Stock Exchange is the secret nature of WB Electronics' contracts, which does not allow it to comply with the rules on information disclosure by public companies, the sources added.

- US electrical equipment maker Forgent Power Solutions has completed a $1.5bn IPO - the largest in the US since the start of this year. The company placed 56 million shares in New York in the middle of the announced price range - $27 per paper. At the debut trading quotes rose by 7.4%. Forgent specializes in the release of transformers and switchgear for data centers.

- Quotes of the developer of the pill from baldness Veradermics soared by 122% on the first day of trading after the IPO on the NYSE in the amount of $256 million. The startup sold 15 million securities at $ 17 - above the established range amid the excitement of investor demand: so, the willingness to acquire 4.9% of shares expressed pharma giant Eli Lilly. Veradermics is founded in 2019 in the United States. Its flagship hair restoration product is in late-stage clinical trials.

- Shares of oncology drug developer Eikon Therapeutics, co-founded by Nobel laureate Eric Betzig, plummeted 16.7% in debut trading. The startup listed $381 million worth of shares on the Nasdaq at the upper end of its $18 range. Although the U.S. IPO market is stable in early 2026, investors remain highly selective: hype demand during roadshows and high valuations do not guarantee success at auction, Reuters writes.

- Norwegian software developer for accountants Visma may postpone its IPO in London due to a sell-off in the technology sector, the Financial Times writes, citing sources. The company, valued three years ago at €19 billion and owned by the Hg fund, wanted to go public in the first half of 2026, but now does not rule out postponing the listing to the second half of the year. A final decision has not yet been made, but the deal is unlikely to go ahead before the second quarter, FT sources said. Visma's flotation could be the biggest for the UK market in several years. In 2023, the company has already refused a public offering, preferring to raise funds through a private sale of shares.

- Mobile advertising platform Liftoff Mobile has also postponed its IPO amid a collapse of quotations in the technology sector. The company had planned to raise up to $762 million, and the final offering price was to be determined on February 5. Shares of software developers collapsed in the last week due to concerns about business risks associated with improving competing artificial intelligence tools. Since the beginning of 2026, the capitalization of Liftoff's stock counterparts - AppLovin and Unity Software - has almost halved, Bloomberg states.

- The Nasdaq exchange proposed to introduce Fast Entry mechanism for accelerated inclusion of large companies in its indexes immediately after the IPO. According to the project, issuers with capitalization level of top-40 of Nasdaq 100 index will be able to enter its calculation in 15 trading sessions. For them, the standard requirements for the circulation period and liquidity are canceled. The addition of such companies will temporarily increase the number of indicator components without displacing existing members until the scheduled rebalancing. The initiative is particularly relevant ahead of tens of billions of dollars worth of offerings expected in 2026, as delays create a gap between the index and actual market conditions, Reuters notes.

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