Global IPO markets reported a 5.7% rise this week with standout gains from Swiss skin care firm Galderma, while Indian electric scooter maker Ather Energy launched its IPO amid challenging market conditions. Several other companies signal upcoming listings, reflecting cautious optimism across sectors and regions.
International markets experienced a notable upswing this week as concerns over tariffs eased, according to the Renaissance International IPO Index reported by renaissancecapital.com. The index saw a significant increase of 5.7%, outperforming the MSCI ACWI ex-US ETF, which rose by 3.5%.
Leading the gains was Swiss skin care company Galderma, which recorded the highest single-week performance with its stock jumping by 18.7%. Conversely, the week's poorest performance came from Laopu Gold, a Hong Kong-listed gold jewellery seller, which fell by 9.7%.
A major development in the IPO landscape was the launch of Indian electric scooter manufacturer Ather Energy's initial public offering in Mumbai. The company, valued at approximately $340 million, initiated its IPO this week despite various other potential listings, such as LG Electronics India, being delayed. Ather Energy is expected to commence trading in early May. However, the company's current valuation is nearly half of the earlier speculations made a few months ago, reflecting challenging market conditions in India. Furthermore, Ather Energy’s close competitor, Ola Electric, has seen a year-to-date share price decline of nearly 40%.
The week's international IPO activity was limited, with just one sizeable deal—a China A-share offering—that achieved a 15% increase.
Looking ahead, there are no large deals exceeding $100 million scheduled for immediate upcoming weeks, although some IPOs are planned for later.
Several companies have declared their intentions to list soon, including German electrical equipment manufacturer Pfisterer, which aims for an IPO this quarter. Auto parts retailer Autodoc has announced it is "99% ready" for an IPO, potentially in the summer. UK-based online lender Zopa has also expressed readiness for a listing, awaiting suitable market conditions.
Additional companies in the IPO pipeline include UCIC, a carton packaging manufacturer, which launched its IPO on the Tadawul exchange with a valuation around $160 million. The Emirati shisha company AIR is currently evaluating the possibility of an IPO. In Japan, semiconductor photomask maker Tekscend is engaging banks with plans for a Tokyo IPO within the year. Indian renewable energy company Continuum Green Energy has secured regulatory approval for its IPO, and asset management firm Canara Robeco AMC has filed for a listing. Meanwhile, the restaurant chain Green Tea has refiled for a Hong Kong IPO.
This overview highlights a dynamic and cautiously optimistic period for international IPO markets, with varied activity across sectors and regions.
Source: Noah Wire Services
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
6
Notes:
The narrative references Ather Energy's upcoming listing (early May) and recent IPO launches, suggesting reasonable timeliness. However, the lack of specific publication dates and references to earlier speculations (e.g., Ather's valuation being 'half of earlier speculations') slightly reduces freshness. The mention of 'this week' and upcoming listings indicates moderate freshness, but verification of exact event dates is unavailable.
Quotes check
Score:
9
Notes:
No direct quotes requiring verification are present. All assertions appear to be factual summaries from financial indices and corporate announcements, which typically do not require quote attribution. The absence of quotes reduces the risk of misattribution.
Source reliability
Score:
7
Notes:
The narrative cites the Renaissance International IPO Index (reported by renaissancecapital.com), a specialised IPO tracker. While the specific article source is unclear, the data appears consistent with financial reporting norms. No overt red flags detected, but the lack of a verified publication or named journalists limits certainty.
Plausability check
Score:
8
Notes:
Market performance figures (e.g., Galderma's 18.7% surge, Laopu Gold's 9.7% decline) align with typical volatility in IPO markets. Ather Energy's reduced valuation matches broader reports of Indian market challenges. Planned listings (Pfisterer, Autodoc) correspond with recent industry trends, though exact timelines remain speculative.
Overall assessment
Verdict (FAIL, OPEN, PASS): PASS
Confidence (LOW, MEDIUM, HIGH): MEDIUM
Summary:
The narrative's financial data and IPO timelines are consistent with verifiable market trends. While the absence of a publication date and primary source attribution limits certainty, the plausibility of sector-specific claims and lack of evident contradictions support its reliability. Confidence is moderated by reliance on a single index report and generic references to unnamed 'companies' and 'plans'.
