Two new tech listings-autonomous vehicle sensors specialist Hesai Technology and solar technology company Nextracker-saw their stocks rise by double-digit percentages after debuting Thursday.
Since 2021 there has been an IPO freeze for companies wishing to go public on US exchanges, driven by an unstable market that closed off the critical exit strategy.
Hesai made the biggest debut for a Chinese company since mobility-tech provider DiDi Global went public in 2021.
The IPO market is primed for a lively 2023 if conditions continue to improve.
Reeling after four straight quarters of losses, is putting major emphasis on a proposed IPO for chipmaker Arm, with SoftBank CEO Masayoshi Son saying it would be the “Largest IPO in semiconductor history.”
In 2021, there were 167 IPOs on US exchanges of PE- and VC-backed companies valued at more than $1 billion, according to PitchBook data.
PitchBook’s VC-backed IPO Index is up 23.3% this year, and the PE-backed IPO Index has climbed 15.3%. Featured image by VIEW press/Getty Images.
Read the full story: https://pitchbook.com/news/articles/nextracker-hesai-nasdaq-ipo-listing