--- title: "International IPO Weekly Winners & Losers" type: "News" locale: "en" url: "https://longbridge.com/en/news/240714761.md" description: "International markets saw gains this week, with the Renaissance International IPO Index up 0.8%. Springer Nature led with a 19.3% rise, while GoTo Group fell 9.9%. CATL's $4 billion IPO in Hong Kong marked a significant event. Upcoming listings include Hengrui Pharmaceuticals and Mirxes in Hong Kong, and Eco-Shop in Malaysia. Notable Middle East IPOs include flynas and SMC Hospitals. Cobalt Holdings plans an IPO in the UK, and several European deals are anticipated this summer. The Renaissance International IPO Index outperformed the iShares MSCI ACWI ex U.S. ETF." datetime: "2025-05-18T16:00:51.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/240714761.md) - [en](https://longbridge.com/en/news/240714761.md) - [zh-HK](https://longbridge.com/zh-HK/news/240714761.md) generator: "portal-rs" --- # International IPO Weekly Winners & Losers **International IPO Index:** International markets traded up this week, as the Renaissance International IPO Index gained +0.8%, and the ACWX ex-US ETF rose +1.9%. Germany-based academic publisher **Springer Nature** jumped +19.3% on earnings to take the top spot, while Indonesian super-app **GoTo Group** was the worst performer, down -9.9%. **Big Development:** Shenzhen-listed battery giant **CATL** raised $4 billion in its Hong Kong cross-listing, the largest IPO of 2025 so far, amid a frenzy of retail interest. It trades on Tuesday. **Latest Listings:** Europe hosted a pair of sizable listings this week: electrical equipment maker **Pfisterer** ($190mm) traded up +12% in Frankfurt, and enterprise lending software provider **Qualco** ($110mm) rose +12% in Athens. In Hong Kong, restaurant chain **Green Tea** ($160mm) slipped -13%. **The Week Ahead:** CATL won't be the only large cross-listing in Hong Kong next week, with leading Chinese pharma **Hengrui Pharmaceuticals** targeting $1.2 billion. Singapore-based biotech **Mirxes** ($140mm) also set to debut in HK. Discount store chain **Eco-Shop** ($230mm) is scheduled to list in Malaysia, and enterprise software provider **innoscripta** ($220mm) is going public in Frankfurt. **The Pipeline:** A trio of notable Middle East IPOs launched this week: budget airline **flynas** ($1.1B) and hospital operator **SMC Hospitals** ($490mm) in Saudi Arabia, and residential REIT **Dubai Residential** ($480mm) in Dubai. In the UK, cobalt play **Cobalt Holdings** announced plans to IPO, while online bank **Monzo** is in talks for a 2026 listing. Several other European deals look ready to launch this summer, including German auto parts retailer **Autodoc**, German medical software provider **Brainlab**, Scandinavian bank **NOBA**, and Portuguese bank **novobanco**. Shopping center REIT **Paradigm REIT** ($130mm) launched in Malaysia, and auto parts maker **Belrise Industries** ($240mm) launched in India. In Hong Kong, gold mining carve-out **Zijin Gold International** and pork producer **Muyuan Foods** hired banks, while construction equipment maker **SANY** said it plans to cross-list. Data center REIT **NTT Data Center REIT** met with investors for a Singapore IPO. 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 0.8% last week vs. 1.9% for the iShares MSCI ACWI ex U.S. ETF. ### Related Stocks - [300750.CN](https://longbridge.com/en/quote/300750.CN.md) - [03750.HK](https://longbridge.com/en/quote/03750.HK.md) - [SMECF.US](https://longbridge.com/en/quote/SMECF.US.md) - [SMCAY.US](https://longbridge.com/en/quote/SMCAY.US.md) ## Related News & Research - [Li Auto replaces CATL cells with its own battery cells](https://longbridge.com/en/news/298803211.md) - [M Stanley: CATL to Benefit From Anti-Involution Measures in Battery Sector, 1H26 Capacity Utilization at 95% Far Above Industry](https://longbridge.com/en/news/298679845.md) - [JPM Maintains CATL at Overweight, Says Market Position Remains Intact](https://longbridge.com/en/news/298682139.md) - [Beyond Generative AI: CATL and Aramco Ventures Bet on DeepCtrls to Power AI's Second Act in the Physical World](https://longbridge.com/en/news/298543641.md) - [Dongfeng to unveil in-house hybrid solid-liquid battery in October, mass production in Q4](https://longbridge.com/en/news/298401550.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**