格隆汇1月5日｜数据显示，2025年美国首次公开募股的表现差强人意。由于股票市场波动加剧，以及针 对加密货币和人工智能等题材的审查日益严格，该年度多宗备受瞩目的上市交易受到冲击。数据显示， 剔除封闭式基金和空白支票公司后，2025年上市的公司股价按加权平均计算上涨了13.9%，逊于标普 500指数16%的涨幅。普华永道美国IPO主管Mike Bellin表示："2025年对IPO市场来说明显是喜忧参半。 市场虽然重新开放，但表现得非常有选择性。"他指出，投资者开始优先考虑质量而非势头，上市门槛 ——尤其是针对早期科技和消费类公司——已显著提高。Bellin总结道："最大的启示是，我们已坚定地 回到了基本面驱动的市场。投资者变得更加挑剔，企业入市时必须具备更清晰的逻辑和更强大的运营方 向。" ...

中国经济网北京1月3日讯深交所近日发布关于终止对新明珠集团股份有限公司(简称"新明珠")首次公开 发行股票并在主板上市审核的决定。 新明珠原拟发行不超过414,026,666股，募集资金200,886.74万元，用于新型节能环保板材项目二期技术 改造项目、湖北新明珠绿色建材1#产线技改项目、陶瓷工艺及材料研发中心建设项目、品牌升级建设项 目、数智平台建设项目、补充流动资金。 | | | | | 单位:万元 | | --- | --- | --- | --- | --- | | 序号 | 项目名称 | 频目 投资 项 | 拟使用 黄景质金 | 比例 | | 1 | 新型节能环保板材项目二期技术改造项目 | 62.795.93 | 62.795.93 | 31.26% | | 2 | 湖北新明珠绿色建材 1#产线技改项目 | 27.655.46 | 27.655.46 | 13.77% | | ਤੇ | 陶瓷工艺及材料研发中心建设项目 | 10.888.80 | 10.888.80 | 5.42% | | ব | 品牌升级建设项目 | 38.980.00 | 38.980.00 | 19.40% | | રે | ...

蓝宇科技在上海IPO寻求筹资75亿元人民币。 ...

《南华早报》此前发文称，据瑞士投资银行瑞银预计，2026年香港首次公开募股(IPO)市场仍将保持全球最大筹资地的 地位，得益于巨额交易的管道和美国资本的回归。 【环球网财经综合报道】Wind数据显示，2025年港股全年IPO规模预计将达到2863亿港元，重返全球第一；港股再融 资规模则达到3166亿港元，远超2022年至2024年的规模，甚至接近过去三年的总和3181亿港元。 瑞银还预计，2026年香港将有150至200宗IPO融资超过3000亿港元（约3850亿美元），超越今年约2700亿港元的融资 额，使香港重新成为全球第一。 瑞银全球银行亚洲区覆盖部联席主管李长江（John Lee Chen-kwok）表示："明年第一季度将有一些IPO筹集超过100亿 港元。"他还补充称，消费商品、高科技和人工智能等行业交易有望为市场带来强劲开局。 ...

根据星链发布的信息，目前其高速互联网服务已覆盖全球155个国家、地区和许多其他市场。从用户增 长轨迹来看，星链的发展速度惊人。公开资料显示，其用户数在2022年底约为100万，到2023年9月超过 200万，并在2024年5月突破了300万。进入2025年，增长进一步加速，先后突破了600万、700万和800万 用户大关。此次达到900万用户，意味着在短短数月内又新增了约100万用户。 【CNMO科技消息】当地时间12月22日，太空探索技术公司（SpaceX）首席执行官兼首席技术官埃隆· 马斯克宣布，其旗下的卫星互联网服务"星链"（Starlink）全球活跃用户数量已突破900万。 星链 星链项目自启动以来，旨在通过低地球轨道卫星星座为全球，尤其是偏远和网络服务不足的地区提供高 速互联网连接。其用户规模的快速扩张，不仅证明了市场对卫星互联网服务的强劲需求，也反映了 SpaceX在卫星发射、网络部署和运营能力上的日益成熟。 此前，马斯克曾透露星链业务已经实现了盈亏平衡的现金流。同时，市场也在密切关注SpaceX未来的 资本运作。有媒体报道称，SpaceX正在推进首次公开募股（IPO）计划，着眼于2026年上市， ...

据悉，瑞银投资银行(UBS Investment Bank)、Raymond James、Stifel、瑞穗证券(Mizuho Securities)以及 第一资本证券(Capital One Securities)为ARKO Petroleum本次IPO交易的联席簿记管理人。该公司暂时未 披露定价条款。 据了解，ARKO Petroleum是上市公司ARKO(纳斯达克市场代码：ARKO)旗下的一家子公司，其子公司 市场定位是一家燃油分销公司;在截至2025年9月30日的九个月内，其向加油站、次级批发商以及其他买 家交付了大约15亿加仑燃油。 ARKO Petroleum运营三大业务板块：批发(Wholesale)业务——通过长期"成本加成"或"寄售类型"合同向 第三方经销商加油站以及ARKO零售网点(ARKO Retail Sites)供应燃油产品;车队加油(Fleet Fueling)业务 ——运营自有及第三方cardlock加油点并发行专属的燃油卡;以及GPMP业务——以"成本加成"的基础方 式向零售网点供油，每加仑收取固定加价额。 （原标题：美国?燃油分销商ARKO Petroleum(APC.US) ...

香港交易所：截至12月19日，106家新上市公司通过首次公开募股（IPO）筹集资金2746亿港元。 本文源自：金融界AI电报 ...

Core Viewpoint - The Delaware Supreme Court has reinstated Elon Musk's original $56 billion compensation plan, overturning a lower court's decision that deemed it too extreme [2][4]. Group 1: Court Rulings and Legal Context - The Delaware Supreme Court criticized the lower court for not allowing Tesla to explain how the compensation could be considered fair [3]. - The initial compensation plan, granted in 2018, included 12 sets of market and operational goals, with Musk eligible for 12% of Tesla's stock options if all targets were met [4]. - A shareholder, Richard Tornetta, argued that the Tesla board failed to fulfill its duties, leading to Musk's undue influence over the approval of the compensation plan [4]. Group 2: Financial Implications and Market Reactions - The original $56 billion compensation plan has increased in value to approximately $140 billion, should Musk exercise all stock options [5]. - If Musk wins the ongoing compensation case, a temporary compensation plan worth about $29.7 billion will be automatically canceled [5]. - Following the court's decision, Tesla shareholders approved a new compensation plan for Musk, potentially worth up to $1 trillion, with similar performance targets [6]. Group 3: Broader Business Context - Tesla has relocated its corporate headquarters from Delaware to Texas to mitigate future shareholder lawsuits, limiting legal actions to investors holding less than 3% of shares [6]. - SpaceX is preparing for a potential IPO, with an internal stock price of $421 per share, valuing the company at $800 billion, aiming for a record IPO size [7]. - Musk's net worth has surpassed $600 billion, making him the world's first billionaire with such a net worth, and he holds about 42% of SpaceX [7].

Core Viewpoint - Morgan Stanley is expected to become the lead underwriter for SpaceX's initial public offering (IPO), leveraging its close relationship with CEO Elon Musk [1] Group 1: IPO Preparation - Elon Musk has not yet selected the lead underwriter, but a decision may be made by the end of the year, with the full underwriting syndicate potentially finalized shortly thereafter [1] - Although preparations are underway, the IPO is contingent on market conditions, and SpaceX may choose to delay or abandon the listing altogether [1] Group 2: Morgan Stanley's Role - Morgan Stanley has provided advisory services to Musk for many years, including participation in Tesla's 2010 IPO, which involved a syndicate that included Goldman Sachs, JPMorgan, and Deutsche Bank [1] - The firm also acted as an advisor and led financing in Musk's acquisition of Twitter (now X) in 2022 [1] Group 3: Future Plans - SpaceX's CFO, Bret Johnsen, indicated in an internal memo that the company is preparing for a public listing in 2026 [1]

Core Viewpoint - Morgan Stanley is positioned as a leading contender for a significant role in SpaceX's upcoming initial public offering (IPO), largely due to its longstanding relationship with CEO Elon Musk [1][3]. Group 1: IPO Process - A selection process, referred to as a "bake-off," is currently ongoing, with Morgan Stanley, Goldman Sachs, and JPMorgan competing for underwriting roles [2]. - Although Morgan Stanley is viewed as a strong candidate for the "lead left" underwriting position, no final decisions have been made yet [3]. Group 2: Relationship with Elon Musk - Morgan Stanley's relationship with Musk spans over 15 years, enhancing its chances of leading the underwriting syndicate [3]. - The bank has previously advised Musk on significant transactions, including Tesla's IPO in 2010 and the financing for Musk's acquisition of Twitter in 2022 [5]. Group 3: IPO Timing and Market Conditions - SpaceX's potential IPO is expected to be complex, with a decision on lead banks anticipated by the end of the year, although the final syndicate will be confirmed later [4]. - The IPO's execution is contingent on market conditions, and there is a possibility that SpaceX may delay or cancel the offering [4]. Group 4: Future Plans - SpaceX's CFO indicated in a staff memo that the company is preparing for a public offering in 2026, but the timing and valuation remain uncertain [7].