The IPO Buzz: An Asian Buffet of Small Deals in Late September

As September draws to a close, the IPO Calendar looks like an Asian buffet. Seven of this week’s 10 small-cap IPOs are for companies headquartered in Asia. Hong Kong (China) and Singapore each claim two IPOs in the week ahead. Japan, Taiwan and Pakistan are each home to one IPO set for pricing during the week of Sept. 25, 2023.

Of the two U.S.-based IPOs expected this week, one deal is for an Asian specialty grocery chain called Maison Solutions.

Bankers expect to raise about $109.69 million, if all 10 small deals get done this week. The small-cap rush at the end of September is in stark contrast to the trio of big tech IPOs – Arm Holdings (ARM), Instacart (CART) and Klaviyo (KVYO) – that raised $6.1 billion and generated waves of headlines from Sept. 14 through Sept. 20 when they started trading.

The NASDAQ Composite Index and the S&P 500 edged higher on Monday, while the Dow Jones Industrial Average slipped following “the worst weekly selloff since March,” according to Bloomberg. Volume was light.

Many market participants were out on Monday, which was Yom Kippur, the Day of Atonement, the holiest day on the Jewish calendar.

The 10-year U.S. Treasury note’s yield hit a 16-year high at 4.53 percent on Monday and Bloomberg’s Dollar Spot Index rallied for a fourth day, Bloomberg reported. Traders continued to digest the Fed’s stance last week that U.S. interest rates are likely to stay higher for longer than previously thought.

The IPO pricing action is expected to get under way on Tuesday night (Sept. 26)  with three tiny deals: Lead Real Estate (LRE proposed), a Japanese luxury real estate developer; Northann Corp. (NCL proposed), a California 3D-printed vinyl flooring company, and VSME Media Holdings (VSME proposed), the British Virgin Islands parent of a Hong Kong content creation company.

Thursday night (Sept. 28) promises to be even busier. Five micro-cap IPOs are scheduled for pricing that night – to start trading on Friday, Sept. 29. To check out the action, please see IPOScoop’s IPO Calendar.

Stay tuned.

(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on IPOScoop.com’s website.)

Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.

To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.

Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.

Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.