The IPOX® Update 1/4/2025

U.S.

EG Group Plans U.S. IPO with Potential Valuation Exceeding $16 Billion

EG Group, a UK-based company founded by the Issa family, is preparing for an IPO in the United States. The company operates fuel stations, convenience stores, and electric vehicle (EV) charging points. The IPO, announced on December 31, 2024, is currently in the early stages of planning and could see the company's shares valued at over $16 billion. Reports indicate that the potential valuation for EG Group could reach £13 billion (USD 16.4 billion), approximately 13 times its earnings of $1.38 billion. The U.S. market is EG Group's largest, with its U.S. division, EG America, operating more than 1,600 stores across 30 states. EG Group is reportedly collaborating with banks for a potential listing in 2025. (Source)

Ascentage Pharma Files for $100 Million Nasdaq IPO

Ascentage Pharma, a Chinese drug development company, has filed for an IPO on the Nasdaq, seeking to raise $100 million under the ticker "AAPG." J.P. Morgan and Citigroup are acting as the joint bookrunners for the offering. Ascentage Pharma's lead drug candidate, olverembatinib, which is used in the treatment of chronic myeloid leukemia, is currently undergoing Phase 3 clinical trials in the United States. This drug has already received approval in China, and the company aims for U.S. approval in 2026. Takeda, a global pharmaceutical company, holds a 7.7% stake in Ascentage Pharma and has a potential option deal with the company valued at up to $1.3 billion, which includes royalties. The company’s second drug in development, lisaftoclax, is in Phase 3 trials for chronic lymphocytic leukemia. Ascentage Pharma is also engaged in collaborative clinical development efforts with companies such as Innovent, AstraZeneca, Merck, and Pfizer. (Source)

Europe

German IPO Market Poised for Growth in 2025 with Potential Double in Prime Standard Listings

The German IPO market is anticipating a significant increase in activity in 2025, with expectations of 8 to 10 IPOs in the Prime Standard segment. This would represent a doubling of listings compared to the previous year. Companies potentially considering a public listing include fintech firm Raisin and energy company 1Komma5. Other notable candidates for IPOs or listings through privatization include Thyssenkrupp Marine Systems, KNDS (a defense company), pharmaceutical firm Stada, and energy provider Uniper. Market optimism is supported by the DAX index surpassing 20,000 points and positive government signals. While 2024 saw a modest €1.5 billion (USD 1.63 billion) raised through Prime Standard IPOs, the outlook for 2025 suggests a substantial recovery in the German IPO market. (Source)

Asia-Pacific

Chinese Automaker Chery Eyes $1 Billion Hong Kong IPO with Valuation Target of $14 Billion

Chery Automobile Co., a major Chinese car manufacturer, has appointed JPMorgan to co-arrange its planned IPO in Hong Kong, targeting to raise approximately $1 billion. The IPO could value the automaker at over 100 billion yuan (USD 14 billion). Other financial institutions involved in the IPO include China International Capital Corp., GF Securities, and Huatai International. The IPO is tentatively scheduled for the second or third quarter of 2025, although the details remain subject to change. Chery Auto, established in 1997, is a significant asset of the Chery Group and is a leading exporter of vehicles from China. The company markets its vehicles globally under brands such as Chery, Tiggo, and Arrizo. Chery is currently expanding its international footprint, including plans to establish an $800 million manufacturing plant in Vietnam by late 2025. (Source)

Hong Kong Sees Active IPO Market with 8 Listings Raising $755 Million in Early 2025

The Hong Kong IPO market has shown significant activity in early 2025, with 8 new IPOs scheduled to raise a total of $755 million by mid-January. These new listings include a diverse range of companies. BrainAurora, a brain health technology company, is set to launch on January 8, 2025, aiming to raise $74.97 million. Anhui Conch Material Technology, a manufacturer of cement and concrete mix additives, will list on January 9, 2025, with an offering of $61.59 million. Also listing on January 9, 2025, is ContiOcean Environment Tech Group, a maker of ship pollution reduction equipment, seeking to raise $46.02 million. Bloks Group, a build-your-own toy maker, is scheduled for January 10, 2025, with a target raise of $187.4 million, alongside Numans Health Food, a health supplement company, aiming for $35.1 million. Yibin City Commercial Bank, a local financial institution, is expected to list on January 13, 2025, with an offering of $241.17 million, the same day as New Gonow Recreational Vehicles, a maker of travel trailers and campers, seeking $44.49 million. Finally, Saimo Technology, which develops testing tools for smart cars, is slated for January 15, 2025, with a planned raise of $64.27 million. (Source)

Disclaimer: News summaries may contain mistakes. The information does not constitute financial advice, endorsement or recommendation and should not be considered as such.