Two small deals are scheduled to be evaluated in the coming week, only one of which is large enough to be included in our IPO statistics. Additional small issuers may be added to the calendar throughout the week.
Holdings of the Starbox Group (STBX) plans to raise $23 million on a market cap of $203 million. The company is building a fintech ecosystem targeting micro, small and medium-sized enterprises in Malaysia with cash rebates at the foundation. As of 3/31/22, the GETBATS website and mobile app had around 614,000 members and almost 800 traders. The company is profitable, but its earnings are very unstable.
Another Malaysia-focused payments app recently went public in the US: Treasure Global (TGL) went public earlier this month, closing 42% above the offering on Friday (-68% from the closing price on day one).
Although not included below, ASX listed Mobilcom (MOB) plans to raise $12 million in its offering of Nasdaq units with a market capitalization of $20 million.
| US IPO Calendar | |||
|---|---|---|---|
| Exhibitor business |
deal size market capitalization |
price range shares submitted |
above Bookrunner |
| Star Box (STBX) Kuala Lumpur, Malaysia |
23 million dollars $203 million |
$4 – $5 5,000,000 |
network 1 |
| Provides a payment app in Malaysia that offers cash rebates. | |||
Sign up for a free trial of our premium platform IPO Pro. Follow us on Twitter (@IPOtweet) and sign up for our IPO market updates.
Street research is expected for two companies. Sign up for a free trial of IPO Pro to get access to road research and lock expiration dates.
IPO Market Snapshot
The Renaissance IPO Indices are market capitalization weighted baskets of newly listed companies. As of 8/18/2022, the Renaissance IPO Index was down 40.0% year-to-date, while the S&P 500 was down -9.2%. Renaissance Capital’s IPO ETF (NYSE:IPO) tracks the index, and top ETF holdings include Airbnb (ABNB) and Snowflake (SNOW). The Renaissance International IPO Index is down 31.6% year-to-date, while the ACWX is down 14.3%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Kuaishou and EQT.
Comments are closed.