Global IPO market poised for rebound with major listings in 2024

WORLDWIDE – The global initial public offering (IPO) market is poised for a resurgence in 2024, as companies across various regions gear up for significant listings. In Asia, Alibaba (NYSE:)’s logistics arm, Cainiao, is considering a Hong Kong IPO that could be valued at $1 billion.

Concurrently, Tokyo Metro is on track for a $5 billion offering, having secured the green light from Japan’s Transport Ministry. Indian electric scooter manufacturer Ola is also in the fray, seeking to raise $660 million in preparation for its IPO.

In Europe, the potential for interest rate cuts is creating an optimistic environment for IPOs, with companies such as Germany’s Douglas and Spain’s Tendam contemplating market debuts. Additionally, pharmaceutical giant Sanofi (NASDAQ:) is exploring the possibility of spinning off its consumer-health division, a move that could see the new entity valued at over $20 billion.

The United States is not far behind, with Renaissance Capital forecasting between 120 and 170 IPOs this year. Social media platform Reddit is targeting a valuation near $15 billion, although its profitability remains under scrutiny.

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