Author: Nishtha Mehrotra | EQMint
http://www.linkedin.com/in/nishtha-mehrotra-642787291
International IPO markets declined during the week ended September 18, 2026, with the Renaissance International IPO Index falling 1.3%, in line with the 1.3% decline in the ACWX ex-US ETF, according to Renaissance Capital.
Hong Kong-listed memory chip designer GigaDevice Semiconductor emerged as the week’s top performer in the Renaissance International IPO Index, gaining 13.2%. It was followed by MiniMax Group, which rose 12.2%, and Shenzhen Han’s CNC Technology, which gained 9.8%.
At the other end of the table, Shanghai Iluvatar CoreX Semiconductor recorded the steepest decline, falling 54.9% during the week. Istanbul-listed factoring services provider Destek Finans Faktoring declined 21.4%, while Hong Kong-listed Delton Technology fell 13.8%.
Top International IPO Winners
The five strongest performers in the Renaissance International IPO Index through September 18 were:
| Company | Ticker | Weekly Return |
|---|---|---|
| GigaDevice Semiconductor | 3986.HK | +13.2% |
| MiniMax Group | 100.HK | +12.2% |
| Shenzhen Han’s CNC Technology | 3200.HK | +9.8% |
| Montage Technology | 6809.HK | +9.7% |
| Kokusai Electric | 6525.JP | +8.8% |
The technology and semiconductor segment featured prominently among the week’s gainers, with four of the five leading stocks linked to technology or semiconductor-related businesses.
Biggest IPO Decliners
The week’s largest declines included:
| Company | Ticker | Weekly Return |
|---|---|---|
| Shanghai Iluvatar CoreX Semiconductor | 9903.HK | -54.9% |
| Destek Finans Faktoring | DSTKF.TI | -21.4% |
| Delton Technology | 1989.HK | -13.8% |
| SANY Heavy Industry | 6031.HK | -7.9% |
| Contemporary Amperex Technology (CATL) | 3750.HK | -7.4% |
Renaissance Capital noted that Destek Finans Faktoring’s decline followed news of the arrest of the chairman of Destek Holding.
Sector Performance
The weekly performance was mixed across sectors tracked by the Renaissance International IPO Index.
Health Care led the sectors with a 6.3% gain, followed by Consumer Discretionary, which rose 1.2%. Technology declined 0.5%, while Industrials fell 0.9%.
Materials declined 1.7%, Consumer Staples fell 1.9%, and Financials recorded the steepest sector decline at 8.2%.
NSE IPO Covers Books Ahead of Listing
India remained a key part of the global IPO market during the week, with the National Stock Exchange of India (NSE) beginning its ₹22,569-crore IPO.
The NSE IPO, valued at around $2.3 billion, covered its books ahead of its planned listing the following week. Reuters reported that the issue was fully subscribed by the second day of bidding, with QIBs subscribing 1.32 times their allocation and non-institutional investors subscribing 1.44 times.
NSE shares are scheduled to begin trading on September 24, 2026.
Rentomojo and Kanohar Engineering Make Strong Debuts
Two Indian IPOs also featured among the latest international listings highlighted by Renaissance Capital.
Furniture rental platform Rentomojo rose 27% following its listing, while electrical transformer manufacturer Kanohar Engineering gained 25%. Both companies had listed on Indian exchanges during the week.
Hero Motors Among Upcoming IPO Listings
The coming week is set to feature several IPO listings across international markets.
In India, Hero Motors, an auto-components manufacturer, was scheduled to list following its ₹1,000-crore IPO. Its shares were scheduled for listing on September 23, 2026.
Other upcoming listings highlighted by Renaissance Capital include optical equipment maker Ligent in Hong Kong, semiconductor testing company Hermes Testing Solutions in Taiwan, Norwegian retailer Outlet Group in Oslo and West African bank Bridge Bank Group in Côte d’Ivoire.
Global IPO Pipeline
The international IPO pipeline also remains active, with several companies preparing potential listings across major markets.
In Europe, power plant developer Ignis and copper wire manufacturer Cunext Group are exploring Madrid listings, while BASF’s Agricultural Solutions has announced plans for a Frankfurt IPO.
In London, Africa-focused fintech Airtel Money, cinema operator Vue and Uzbekistan-based freight airline Centrum Holding have moved forward with listing plans.
Meanwhile, Hong Kong’s pipeline includes battery-material company Tinci, while agrochemical company Syngenta is reportedly preparing for an IPO. Australian data-centre developer Firmus is also targeting a listing, while job-search platform swipejobs is arranging investor meetings for a potential Sydney IPO.
India’s IPO pipeline also includes student accommodation operator Elevate Campuses, which has launched its offering.
The weekly data highlights the varied performance across international IPO markets, with technology and healthcare stocks recording gains while financials and several individual newly listed companies faced sharper declines.
Disclaimer: This article is for information purposes only and is not investment advice.
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