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Upcoming Global IPOs
SHEIN Global Holdings Ltd (Ticker: 625 HK) is a Chinese global online fast-fashion and lifestyle retailer selling a broad range of affordable, trend-driven clothing, accessories, beauty and lifestyle products, supported by a data-driven, on-demand supply chain designed to rapidly introduce new styles. The company served approximately 273 million active customers across around 160 markets in 2025. Founded in China and headquartered in Singapore, SHEIN plans to list on the Hong Kong Stock Exchange on September 1, 2026.
According to published terms, SHEIN plans to offer approximately 280 million Class B shares at HKD47.60-HKD49.50 per share, raising up to approximately HKD13.86 billion ($1.77 billion). At the top of the range, the IPO would value the company at around $26.8 billion. The offering consists entirely of primary shares and includes a 15% greenshoe option of approximately 42 million shares. Goldman Sachs, Morgan Stanley and JPMorgan are among the banks backing the offering.
Mech-Mind Robotics Technologies Co Ltd (Ticker: 9615 HK) is a Chinese industrial robotics and embodied AI company providing intelligent robot components and integrated hardware-software systems. Its products use 3D vision, deep learning and AI-based motion planning to enable robots to perceive, interpret and interact with complex industrial environments. The company serves industries including automotive, new energy, consumer electronics, logistics and general manufacturing, with products sold in almost 50 countries and regions.
Mech-Mind plans to list on the Hong Kong Stock Exchange on September 1, 2026. The company is offering 23.14 million H shares at an expected price range of HKD 95.30 to HKD 101.70 per share, seeking to raise up to approximately HKD 2.35 billion (approximately $300 million). The offering consists entirely of primary shares and includes a 15% greenshoe option for approximately 3.47 million additional shares. CLSA, China Securities International, Daiwa Capital Markets Hong Kong and Futu Securities International are among the offering managers.
Medcaptain Medical Technology Co Ltd (Ticker: 2041 HK) is a Chinese medical device company providing products across life support, minimally invasive intervention and in vitro diagnostics. Its portfolio includes infusion systems, endoscopic products, diagnostic analyzers and related consumables, with products distributed in more than 140 countries and regions and used in over 6,000 hospitals in China.
Medcaptain plans to list on the Hong Kong Stock Exchange on September 7, 2026. The company is offering approximately 38.91 million H shares at HKD 15.42 per share, raising approximately HKD 600 million (approximately $77 million). The offering consists entirely of primary shares. Based on the offer terms, Medcaptain is valued at approximately $943 million at the IPO price.
The company operates five R&D centers and six manufacturing centers across China and the UK. Revenue increased from RMB1.31 billion in 2023 to RMB1.62 billion in 2025, while gross margin rose to 53.7% in 2025. Medcaptain reported net profit of RMB50.7 million in 2025.
The IPOX® Newsletters
IPOX® in the News
IPOX® Associate Lukas Muehlbauer was featured in Bloomberg’s Mideast Money newsletter, providing context on Abu Dhabi’s recent moves to take strategic companies private. He highlighted how similar transactions in other markets have often reflected governments’ desire for greater control over important assets, whether to support long-term investment or restructuring. His comments helped frame the AD Ports and TAQA developments within a broader global pattern of state-led ownership consolidation and strategic market repositioning across public equity markets worldwide today and beyond.
German financial magazine FOCUS MONEY examines Oura’s planned IPO as the wearable technology company builds on strong growth and an expanding digital health platform. IPOX® Associate Lukas Muehlbauer comments on Oura’s positioning ahead of a potential listing, noting its evolution from a young wearable company into an established platform. He also highlights Oura’s focused product strategy versus larger technology groups, as the company targets further growth in the expanding global wearables market and recurring subscription-based customer revenue opportunities.
IPOX® CEO Josef Schuster commented on Lyntris’ New York debut after shares fell 11.4%, valuing the defense contractor at $1.78 billion. Schuster said the market was discounting the company’s capital structure rather than treating it like a venture capital deal. He also noted that higher U.S. bond yields were pushing investors away from riskier, less-seasoned companies, including recent IPOs, even as earnings remained strong. Lyntris priced its IPO below its marketed range and reduced the offering size to 17 million shares, raising $297.5 million.
Reuters reports that Londian Wason’s NYSE debut valued the Chinese copper foil maker at about $2.01 billion, marking the largest U.S. IPO by a Chinese company in more than a year. IPOX® Research Associate Lukas Muehlbauer cautioned that the strong first-day performance, supported by a very low float and potential scarcity premium, should not be viewed as proof of a broader reopening for larger Chinese IPOs. He also highlighted potential future supply risks and customer concentration concerns for longer-term investors.
IPOX® Associate Muehlbauer was quoted in Reuters on Londian Wason’s planned U.S. IPO, which targets a valuation of up to $1.7 billion and could become the largest New York listing by a Chinese company in more than a year. He said the relatively small offering would be encouraging rather than signal a definitive market reopening, while highlighting stronger growth, profitability, battery demand, and investor concerns over the company’s reliance on a limited number of major customers for future growth prospects.
The IPOX® Update
This week’s IPOX Update highlights several major new listings across the U.S., Europe and Asia-Pacific. Oura is targeting a U.S. IPO of up to $3 billion, while Aggreko has filed for an NYSE listing that could raise about $1 billion. Ursa Major is pursuing a $2.3 billion SPAC transaction, and KNDS is considering reviving its European IPO. In Hong Kong, Syngenta remains a potential $10 billion candidate, while Medcaptain has launched its own offering ahead of a September market debut.
IPO activity accelerated across major markets, led by potentially record-sized U.S. offerings. Anthropic is preparing a public filing, while SB Energy targets at least $5 billion and General Atlantic revived listing plans. In Europe, Quantexa is weighing a London or U.S. IPO. Asia-Pacific activity includes a $1 billion Singapore data-center REIT and several Hong Kong technology listings. In Africa, Dangote Refinery advanced plans for a potential $5 billion Nigerian IPO after securing a $1 billion underwriting programme from its advisers.
Global IPO activity is building across data centers, AI, semiconductors, robotics and consumer businesses. In the U.S., Vantage Data Centers is exploring a potential $10 billion IPO, while DayOne has confidentially filed for a $5 billion offering and Anthropic is meeting investors. Across Asia-Pacific, Moore Threads targets a major Hong Kong listing, alongside Vitalink, Mech-Mind and Kiwimoore. Malaysia’s ZUS Coffee and Japan’s Oliver are also advancing IPO plans, highlighting broader momentum across regional equity markets in 2026.