IPO Activity - WeRide, a China-based autonomous driving developer, postponed its $110 million US IPO due to delays in finalizing registration documents with Chinese regulators [2] - Reitar Logtech, a Hong Kong-based logistics services firm, priced its IPO at the bottom of the range, raising $9 million at a $249 million market cap, with business segments in asset management and construction services [2] - WORK Medical Technology, a China-based medical product maker, priced its IPO at $4 to raise $8 million at a $58 million market cap, offering 21 disposable medical products [2] - Six IPOs submitted initial filings, including Bicara Therapeutics aiming to raise $200 million and Zenas BioPharma seeking $150 million [2] Market Performance - The Renaissance IPO Index was up 8.3% year-to-date as of August 22, 2024, while the S&P 500 was up 17.8% [4] - The Renaissance International IPO Index was down 5.5% year-to-date [4] Upcoming IPOs - No sizeable IPOs are scheduled for the upcoming week, but four micro-caps from Asia are being tracked for potential pricing [2] - Companies looking to conduct mid-September IPOs are expected to continue filing preliminary prospectuses [2]
U.S. IPO Weekly Recap: WeRide Delays Its IPO As Pipeline Gets A Boost