The fight over SpaceX, the CSG rally, and the NYSE's influx of issuers: what's most important about IPOs by Jan. 25

The largest Wall Street banks have started a fight for the right to organize the listing of SpaceX. Arms supplier Czechoslovak Group held the largest IPO in the history of the defense sector. NYSE President Lynn Martin predicts a sharp increase in activity in the IPO segment in the coming weeks. The main events on the IPO market during the week - in our selection.

- Elon Musk's space company SpaceX is in talks with four major banks to organize a possible initial public offering, Reuters reported, citing sources. Bank of America, Goldman Sachs, JPMorgan Chase and Morgan Stanley are bidding for leading roles in the IPO, they said. SpaceX's listing could be the largest in the history of the stock market. According to Bloomberg, SpaceX is preparing to go public in 2026 and raise more than $30 billion with a valuation of the entire company at $1.5 trillion. According to The Wall Street Journal, SpaceX may float closer to July.

- China's Alibaba Group is considering spinning off its semiconductor division T-Head Semiconductor for a subsequent IPO, sources told Bloomberg. According to their data, the process is at an early stage: first it is planned to restructure the asset, involving the transfer of part of the capital to employees, and only then - the listing, the timing and potential valuation of which has not yet been determined. T-Head, established in 2018 as a wholly-owned subsidiary of Alibaba, specializes in developing chips for data centers, artificial intelligence systems and the Internet of Things. The market reacted positively to the publication about a possible spin-off: Alibaba's depositary receipts in the US rose by 5.1% during the trading session.

- Shares of ammunition and armored vehicles manufacturer Czechoslovak Group soared 32% in debut trading in Amsterdam. CSG's €3.3 billion IPO was the largest ever among companies focused exclusively on defense projects. The exercise of the over-allotment option will allow the company to raise a further €496 million. The Czech manufacturer floated shares on the stock exchange at €25 apiece. Its initial market value amounted to €25 billion. The anchor investors of the IPO were BlackRock and a Qatari fund, which invested €300 million each. Shares of European defense companies reached highs in 2026 amid US threats to take control of Greenland.

- Quotes of one of the largest cryptocurrency wallet providers BitGo jumped by 36% during the debut trading in New York, but then lost almost all of the growth, closing only 2.7% above the offering price. BitGo's IPO was the first for the U.S. crypto sector in 2026. The company raised $212.8 million, selling shares at $18 apiece, above its forecast range. BitGo's successful listing is a sign of the crypto industry's recovery from the fall in token prices that dampened investor interest in the sector late last year, The Wall Street Journal noted.

- US construction equipment retailer EquipmentShare, which calls itself one of the largest and fastest-growing players in the segment, has raised $747.3m in an IPO on Nasdaq. The company placed shares in the middle of the announced price range - at $24.5, providing itself a capitalization of $6.2 billion. According to Bloomberg, the volume of applications during the bookbuilding exceeded the volume offered for placement several times.

- New York Stock Exchange President Lynn Martin predicts "tremendous" activity in the IPO segment in the coming weeks. On the sidelines of the Davos forum, she told Bloomberg TV that work on deals is already underway, but the main influx of issuers is expected at the end of the first and beginning of the second quarters. In recent years, IPO activity has been held back by high interest rates and the fact that companies have taken longer to go private because of the availability of over-the-counter financing.

- French carmaker Renault, which had earlier rejected the IPO of its electric car subsidiary Ampere due to a low market valuation, has decided to liquidate the venture and return its assets to the group's core business, sources told Reuters. The reorganization plan will take effect on July 1, 2026, they said. This is the second time in less than two months that Renault's new head François Provost has canceled a major initiative by his predecessor Luca de Meo, who moved to Kering last year, the agency noted. In December, the company announced the closure of the carsharing arm of subsidiary Mobilize with the transfer of its assets inside the parent group.

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