International IPO Weekly Winners & Losers

International IPO Index: International new stocks continued their winning streak, with the Renaissance International IPO Index up +1.2%, while the ACWI ex-US ETF inched up +0.6%. Japanese memory chip maker Kioxia rose +18.1% to take the top spot, while Amsterdam-listed private equity firm CVC Capital Partners took the bottom spot, off -10.6%.Big Development: Amid excitement in Hong Kong's IPO market, gold mining carve-out Zijin Gold International may up its IPO target to $3 billion, which would make it the year's second-largest listing (behind CATL). It could debut as soon as this month.Latest Listings: Not every Hong Kong IPO is a winner: air conditioner maker AUX Electric ($460mm) fell -7% in its debut this week. In Saudi Arabia, building products supplier Marketing Home Group ($110mm) dropped -14%. One sizable China A-share listed, and soared over +270%.The Week Ahead: Taiwan-based nutritional supplement seller Daiken Biomedical ($110mm) is set for an uplisting in an otherwise quiet week.The Pipeline: In India, home services platform Urban Company ($210mm) launched its IPO, while Tata Capital ($2B) is reportedly gearing up for a 9/30 listing. Regulators approved the listing of consumer electronics maker boAt. Mobile payments firm PhonePe is nearing a confidential filing, and telecom giant Reliance Jio confirmed it is preparing for an IPO.Leading Angolan bank BFA ($220mm) launched a rare IPO in the country. Investment banking carve-out VPBank Securities ($170mm) announced its intent for a Vietnamese IPO, and online marketplace portfolio SMG announced its intent for a Swiss listing. Hong Kong regulators approved the potential $2 billion IPO of auto giant Chery. Personal care products provider FineToday is restarting work on its Tokyo IPO. Africa-focused mobile payments carve-out Airtel Money reportedly hired Citi for a 2026 listing. 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 1.2% last week vs. 0.6% for the iShares MSCI ACWI ex U.S. ETF.