What are the best upcoming IPOs to watch?
Here are 10 upcoming public offerings from around the globe that are worth paying attention to.
Top 10 upcoming IPOs
Ant Group
The on-again, off-again IPO of Alibaba Group Holding’s fintech arm Ant Group appears to be back on the horizon.
It was reported in early June 2022 that Beijing had tentatively given a green light to the group to relaunch its IPO. Sources also said that a preliminary prospectus for the listing in Shanghai and Hong Kong could take place as early as July 2022.
However, Ant Group has publicly stated that there are no plans to revive its IPO. The group was previously on track to raising a record US$37 billion in its first planned IPO, until Chinese authorities forcibly pulled the plug on its share offering in November 2020.
ByteDance Ltd.
Like Ant Group, the IPO of the parent company of short-form video sharing app, TikTok, has been a subject of major speculation since late 2020.
While there are reports that ByteDance could finally go public in late 2022, the jury is still out on when exactly that will take place, considering the company is seemingly preparing to list its domestic business (recently renamed as Douyin Group (HK) Limited) in Hong Kong first.
Private market deals from earlier this year also valued ByteDance at US$300 billion, which is down US$100 billion from a year ago.
Reddit Inc.
The user-driven content and discussion website quietly filed to list its shares in the US at the end of 2021, but little has been reported of the planned flotation since.
Reddit, known for its message boards, is said to be eyeing a valuation of US$15 billion at the time of the listing. The company has engaged Morgan Stanley and Goldman Sachs to guide the process.
The website has more than 50 million active users and over 100,000 communities as of December 2021. It closed another round of private funding in August 2021, which valued the company at US$10 billion.
Discord Inc.
The social messaging platform, which was initially designed for the gaming community, has not only gone mainstream; it is also planning to go public.
Thanks to the Covid-19 pandemic, Discord’s monthly active users burgeoned 15 times, from 9 million in 2017 to 140 million in 2021. By late 2020, the company reported that 70% of its user base was using its platform for non-gaming purposes. Registered users also reached 350 million in 2021.
Revenue estimates also show that that the company achieved revenues of US$130 million in 2020, which is a 188% increase from 2019’s estimated revenue of US$45 million.
Super Hi International Holding
Haidilao is planning to list and spin off the shares of its overseas business, Super Hi International Holding, on the main board of The Stock Exchange of Hong Kong.
The hotpot restaurant chain is reportedly working with advisers on the possible listing and has yet to apply for it, but further details and a prospectus filing could happen as soon as in the coming weeks.
According to Bloomberg Intelligence analysts, a spinoff and listing of Super Hi could provide investors better transparency and exposure to the business, which could position the company for more long-term growth.
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Revolut Ltd.
With a private valuation of US$33 billion as of July 2021, Revolut is by far the UK’s most valuable fintech firm and startup. This is compared to a valuation of around US$5.5 billion in early 2020.
This will also place the app, which offers banking and trading services, ahead of payments company Wise, whose listing debut last July raked in US$11 billion after the first day.
Revolut’s CEO and co-founder Nikolay Storonsky has ruled out an IPO in 2022, stating that the company is focusing on growing its revenue for now, being that it has yet to turn in a profit. Still, keep your eyes peeled for any sudden changes.
Porsche AG
Porsche CEO Oliver Blume stated on 18 July 2022 that the company will reveal more details of its IPO, including what the structure of a partial listing will look like, in the coming weeks.
The luxury carmaker’s IPO was first announced by its parent company, the Volkswagen Group, in February 2022. Over a dozen banks have been hired to work on the IPO, which could value Porsche at as much as 90 billion euros.
Ahead of its IPO, Porsche has also outlined a four-year plan to boost profit margins by as much as 27% by 2026.
Stripe, Inc.
The mega unicorn, whose US$95 billion valuation from its latest fundraising in March 2021, makes its upcoming IPO one of the most anticipated ones.
The payments processing platform is reportedly weighing a direct listing rather than a traditional IPO. Its flotation would be one of the largest public offerings in history.
Despite being a part of a highly competitive sector, Stripe saw its revenue balloon 70% to nearly US$7.5 billion in 2020. It also processed some US$640 billion in payments in 2021, an amount almost equivalent to the GDP of Poland.
BrewDog plc
The self-professed ‘number one craft brewer in Europe’, BrewDog, is still on track to file for an IPO, although it is waiting for market conditions to stabilise first.
Co-founder and CEO James Watt said in an interview with UK media that current market conditions are ‘just not conducive’, with stock markets down over 20% this year.
However, it is something that the UK-based brewery, known for its ales and lagers, remains committed to.
BeerCo Limited
Speaking of breweries, BeerCo – the brewery unit of Thai Beverage Public Company Limited, has received a ‘receipt of conditional eligibility-to-list’ to list up to 20% of the total number of issued ordinary shares on the main board of the Singapore Exchange Securities Trading Limited.
The brewery, which manufactures Chang Beer, is hoping to raise as much as US$1 billion through the IPO, Reuters reported back in May 2022.
How to take a position on upcoming IPOs
- Pick the upcoming IPO you'd like to trade
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- Take your position
*With US IPOs, the stock can sometimes take a few hours to become available to trade on the day of the listing. This is the case with all brokers.
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