Topic
Primary equity markets where private companies sell shares to the public, including the exchanges, underwriters, pricing mechanics and listing rules involved.
Jio Platforms set its IPO price band at 1,065 to 1,119 rupees, valuing it near $108 billion against over $130 billion floated a year ago. CNBC reported pushback from investors unconvinced by its technology label.
Reality
Elon Musk said Starlink will be priced affordably in India, days before Jio Platforms' IPO at a $106 billion valuation target.
Perspective Coverage
3 publishersReality
Nvidia-backed Firmus pulled its ASX IPO days after opening the book, citing market volatility. Forbes Australia put the raise at about $7 billion at a $44 billion value, and any private round will be read against that offer.
Perspective Coverage
4 publishersReality
Nvidia-backed data centre operator Firmus has withdrawn its Australian stock market listing, citing market volatility, and will seek private capital instead. The offer was meant to raise up to US$5.5 billion for GPUs at an Indonesian site, the Straits Times reported, so that capacity now depends on a private round still in talks.
Perspective Coverage
13 publishersReality
Firmus Grid scrapped its Australian IPO after investors balked at a $30 billion valuation, Mint reported. Listed rival CoreWeave is still worth $37 billion, so the sources show a failed price more clearly than a failed sector.
Reality
Nasdaq's net income standard now requires $15 million of unrestricted public float, three times the old bar, and the blank-check pool positioned to absorb the issuers it excludes is filling faster than it is finding them.
Reality
The Information reported that China's securities regulator is asking humanoid firms for recurring revenue and narrowing losses before they list. Exchange review materials show 73.6% of Unitree's revenue came from research and education buyers.
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The scrutiny centres on revenue booked through data collection centres and joint ventures that local governments capitalised. One person familiar with the review put the valuation impact at 60 to 70 percent if that revenue is stripped out.
Reality
Celltrion Healthcare's 1.0088 trillion won in 2017 still stands alone, and Yanolja, Viva Republica and Galaxy Corporation are all pursuing US listings while KOSDAQ turnover runs at less than half January's.
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Sherman Lin, chair of the Taiwan Stock Exchange, wants the benchmark broadened past the chipmaker that is 40% of it. The other 60% already outran TSMC this year, and most of it sells into the same AI cycle.
Reality
Five of the seven companies that debuted on the KOSDAQ in the past month are trading below their offering prices, and the exchange's pipeline points to fewer than 50 listings this year, the fewest since 2014.
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London's register has fallen to 1,534 companies and more than 30 are leaving this year, while its seven first-half IPOs raised $780 million between them. LSE chief Julia Hoggett says the pipeline is the largest since 2005.
Reality
Park Hyeon-joo wants corporate tax relief to keep companies on Korea's growth board, though the exodus he cites runs at under two firms a year while 92.53% of market capitalisation, and the buyers with it, sits on the KOSPI.
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