--- title: "International IPO Weekly Winners & Losers" type: "News" locale: "en" url: "https://longbridge.com/en/news/239714409.md" description: "International IPO markets saw mixed results this week, with the Renaissance International IPO Index up 0.6%. Kioxia led gains at +12.1%, while Horizon Robotics fell -8.0%. Upcoming Middle East IPOs aim to raise ~$2 billion. Ather Energy's Indian debut disappointed, dropping -7%, while JTPV rose +11% in Hong Kong. Next week features IPOs from Pfisterer and Green Tea. Notable filings include flynas and SMC Hospitals in the Middle East, and various companies in Hong Kong and India are preparing for listings. The Renaissance International IPO Index is up 10.7% year-to-date." datetime: "2025-05-11T16:00:22.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/239714409.md) - [en](https://longbridge.com/en/news/239714409.md) - [zh-HK](https://longbridge.com/zh-HK/news/239714409.md) generator: "portal-rs" --- # International IPO Weekly Winners & Losers **International IPO Index:** International markets moved sideways this week, with the Renaissance International IPO Index up +0.6%, and the ACWX ex-US ETF off -0.2%. Japanese memory chip maker **Kioxia** rose +12.1% to take the top spot, while Hong Kong-listed assisted-driving chip developer **Horizon Robotics** was the worst performer, down -8.0%. The Int’l IPO Index is up +10.7% year-to-date, in line with the ACWX. **Big Development:** A trio of sizable Middle East IPOs filed this week, set to raise a combined ~$2 billion over the next month. The region’s 2025 listings have posted mixed results, against a backdrop of falling oil prices. **Latest Listings:** Electric scooter maker **Ather Energy** ($350mm) fell -7% in its Indian debut, a disappointment but not a surprise given its weak subscriptions and grey-market trading. In Hong Kong, solar panel maker **JTPV** ($180mm) rose +11%. **Auntea Jenny** ($35mm) popped +40% on its debut in Hong Kong's latest bubble tea IPO; it had a sizable market cap ($1.5B) but the low float excludes it from our 2025 stats. **The Week Ahead:** Two sizable international IPOs are listing next week, electrical equipment manufacturer **Pfisterer** ($160mm) in Frankfurt, and restaurant chain **Green Tea** ($160mm) in Hong Kong. **The Pipeline:** In the Middle East, budget airline **flynas** and hospital operator **SMC Hospitals** filed for Tadawul listings, while residential REIT **Dubai Residential** filed for a Dubai listing. Hong Kong activity continues to ramp up. Starting with the largest: Battery giant **CATL** began talking with investors ahead of a formal launch expected next week, while **Ant Group** is in talks with regulators to list its international unit. A handful of notable names re-filed papers, including infectious diseases biotech **Mirxes**, drug discovery biotech **Insilico**, and autonomous truck developer **CiDi**. Discount retailer **Eco-Shop** priced its Malaysian IPO at the bottom of the range, set to trade later this month. Malaysian telecom **U Mobile** hired an adviser for a listing. Portuguese bank **novobanco** reaffirmed June listing plans. Telecom giant Airtel Africa pushed back the timeline of **its mobile money unit's** IPO to early 2026. In India, regulators approved the listing of micro-lender **Veritas Finance**, while IT services provider **Mouri Tech** refiled for an IPO, and infrastructure construction firm **Ravi Infrabuild Projects** filed IPO papers. Thanks for reading, -Matt Kennedy, *Senior Strategist* -Angelo Bochanis, *Data Analyst* Renaissance International IPO ETF (NYSE symbol: IPOS) tracks the Renaissance International IPO Index The Renaissance International IPO Index returned 0.6% last week vs. -0.2% for the iShares MSCI ACWI ex U.S. ETF. ### Related Stocks - [09660.HK](https://longbridge.com/en/quote/09660.HK.md) - [SMCAY.US](https://longbridge.com/en/quote/SMCAY.US.md) - [SMECF.US](https://longbridge.com/en/quote/SMECF.US.md) ## Related News & Research - [Gas supply cut from Indonesia accounts for less than 2% of Singaporeâs daily gas demand: EMA](https://longbridge.com/en/news/302973681.md) - [Fast food chain Long John Silver's shutters another Singapore outlet after at least 5 closures this year](https://longbridge.com/en/news/302978153.md) - [Small businesses struggling with inflation amid Trump tariffs ahead of midterms](https://longbridge.com/en/news/302972502.md) - [Dongshan Precision retail IPO undersubscribed as Hong Kong mega listing flops](https://longbridge.com/en/news/302974270.md) - [Crypto Strategist Who Nailed 2025 Bitcoin Top Warns BTC Could Drop Below $70,000 – Here’s His Price Target](https://longbridge.com/en/news/302980144.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**