Commerce Secretary Howard Lutnick on Thursday opened the door to allowing investors to buy shares in government-owned housing giants by the end of the year. "Do I think it's going to be soon? I do," Lutnick said on CNBC, adding it "could well" be in 2025. He stressed that the goal was to ensure home prices remain affordable for families. "I think a deal is going to be struck. We're going to take the company public," he said. "It could be the largest IPO in history. But only a small percentage of these co ...

Core Insights - Figure Technology Solutions shares opened at $36 each, representing a 44% increase from their IPO price of $25 [1] - The company's listing raised a total of $787.5 million [1]

Gemini Space Station, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has drawn over 20 times as many orders for its planned U.S. initial public offering as there are available sh... ...

Figure Technology raises $788 million at $25 a share, after upsizing the offering by 5.2 million shares. ...

The success of several high-profile IPOs this year means investors have gotten used to seeing eyewatering pops on day one. ...

Core Viewpoint - Gemini has raised its IPO price range to $24 to $26 per share, aiming for a valuation of approximately $3.2 billion and targeting to raise around $435 million [1][2]. Group 1: IPO Details - The initial public offering (IPO) price range has been increased from $17 to $19 to $24 to $26 per share [1]. - The total share count remains at 16.7 million, which means at the top end of the new price range, Gemini would raise roughly $435 million, an increase from the previous target of about $317 million [1][2]. Group 2: Institutional Support - Nasdaq has committed to invest $50 million in the IPO, indicating strong institutional backing for Gemini as it prepares to go public under the ticker GEMI [3]. - This partnership is viewed as a sign of confidence in Gemini's long-term prospects and reflects Wall Street's increasing acceptance of digital asset platforms [3]. Group 3: Market Context - The IPO is occurring amidst a surge of fintech listings and a renewed interest in digital asset companies [4]. - Investor enthusiasm for Gemini's IPO will depend on the company's ability to stabilize its finances while navigating a changing regulatory landscape [4]. Group 4: Regulatory Challenges - The IPO is set against a backdrop of regulatory controversy, particularly involving allegations against Tyler Winklevoss by CFTC nominee Brian Quintenz [5]. - Quintenz disclosed private messages showing Winklevoss's attempts to influence his confirmation regarding a long-standing dispute with the CFTC, which adds pressure on Gemini as it seeks to assure investors and regulators of its stability [6].

Goldman Sachs is set to see its busiest week for initial public offerings since July 2021, its CEO David Solomon said in a CNBC interview on Wednesday. ...

Core Insights - American crypto exchange Gemini has increased its expected IPO share price to a range of $24-26, potentially valuing the firm at over $3 billion upon market entry [1] - The firm plans to offer 16,666,667 common shares of GEMI at the updated price range, up from an initial expectation of $17-19 [1] Company Positioning - Founders Tyler and Cameron Winklevoss emphasized the transformative nature of digital assets in a letter, stating that Gemini is building a "super app" for the crypto frontier and is uniquely positioned for future contributions [2] - The exact date for the IPO remains unspecified, but the firm aims to proceed "as soon as practicable" following the effective filing date [2] Market Context - Gemini's IPO intentions were first announced in June, following the successful IPO of stablecoin issuer Circle, which also increased its offering price due to high demand [3] - The IPO is being underwritten by major financial institutions including Goldman Sachs, Cantor, and Morgan Stanley, with GEMI set to trade on Nasdaq [3] Share Allocation - The firm has requested that 10% of the IPO shares, approximately 1.67 million shares, be reserved for a directed share program aimed at specific individuals and entities [4] - Additionally, Gemini has entered into an agreement with Nasdaq Inc. to sell $50 million worth of shares at the IPO price, minus underwriting discounts and commissions [4]

Core Insights - Klarna successfully completed its IPO on the New York Stock Exchange, raising $1.4 billion, primarily benefiting existing investors rather than the company itself [1] - The company sold shares at $40, exceeding the initial price range of $35 to $37, resulting in a valuation of $15 billion at the IPO [1] - Shares opened at $52 but stabilized around $46 during the day [1] Share Distribution - Out of the 34.3 million shares sold, only 5 million were issued by Klarna, with the majority sold by existing investors, including Sequoia Capital and other notable entities [2] - Sequoia Capital is the largest shareholder, controlling nearly 23% of Klarna [5] - Co-founder CEO Sebastian Siemiatkowski retained his shares, valued at $1.02 billion at the IPO price, while co-founder Victor Jacobsson sold 1.1 million shares but still holds over 8% of the company [4] Market Dynamics - Existing investors often contribute shares to meet IPO demand, which can lead to a more accurate and potentially higher valuation [3] - Klarna's IPO is significant as it represents a milestone for the company, showcasing its journey from a startup to a publicly traded entity [6] - The $1.4 billion raised is not the largest IPO of 2025, as that record is held by CoreWeave with $1.5 billion raised in June [6]

Core Viewpoint - Coupang, often referred to as the Amazon of South Korea, successfully had a lawsuit dismissed that accused it of defrauding shareholders during and after its 2021 IPO, which was the largest by a foreign company in over six years [1][5]. Group 1: Lawsuit Dismissal - U.S. District Judge Vernon Broderick ruled that shareholders failed to demonstrate that Coupang and its executives intended to defraud them or made materially misleading statements [2]. - The judge noted that the claims regarding unsafe working conditions and other allegations were either too broad, insufficiently specific, or amounted to "puffery" [4]. Group 2: Shareholder Allegations - Shareholders accused Coupang of various misconducts, including concealing unsafe working conditions, manipulating search results, and coercing suppliers to raise prices on rival platforms [3]. - The lawsuit claimed that Coupang's share price dropped by more than 50% within a year of the IPO due to revelations about these issues [4]. Group 3: IPO Details - Coupang raised $4.6 billion in its IPO, marking the largest IPO by a foreign company on Wall Street since Alibaba's in September 2014 [7]. - The IPO was backed by Softbank Group and was significant in the context of foreign company listings in the U.S. market [7]. Group 4: Company Background - Coupang was founded in 2010 by billionaire Bom Kim and was headquartered in Seoul at the time of its IPO, although it has since moved its headquarters to Seattle [6].