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US IPO Week Ahead: Another quiet week for the IPO market

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There are currently no IPOs scheduled for the coming week, although some small deals and SPACs could be added to the calendar later in the week.

Small issuers were the driving force behind the 2022 IPO Activity that so far accounts for over 60% of annual emissions. The pipeline is typically busier around this time, with new issuers entering the market after Memorial Day, but early filings have been scarce amid the worst sell-off in IPOs in over a decade.

However, a number of large issuers in the pipeline are keeping their filings up to date, including AIG Carve-out Corebridge Financial (CRBG), car-sharing platform Turo (TURO), Brazilian steakhouse chain Fogo Hospitality (FOGO) and girls’ fashion retailer Claire’s (CLRS) have all released updated financial data over the past week.

Street research is expected for four companies in the coming week.

IPO Market Snapshot

The Renaissance IPO Indices are market capitalization weighted baskets of newly listed companies. As of 5/19/2022, the Renaissance IPO Index was down 47.5% year-to-date, while the S&P 500 was down 17.7%. Renaissance Capital’s IPO ETF (IPO) tracks the index, and top ETF holdings include Uber Technologies (UBER) and Snowflake (SNOW). The Renaissance International IPO Index is down 30.6% year-to-date, while the ACWX is down 14.6%. Renaissance Capital’s International IPO ETF (IPOS) tracks the index, and top ETF holdings include Volvo Car Group and Kuaishou.

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Editor’s note: The summary points for this article were selected by Seeking Alpha editors.

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