PayPay Files for U.S. IPO, ARKO Petroleum Debuts at $17.75
PayPay moved closer to a U.S. listing after filing for an IPO of American depositary shares and applying to list on the Nasdaq Global Select Market, while ARKO Petroleum made its public debut on Thursday, opening for trading at $17.75.LATEST IPOS AND DIRECT LISTINGS:ARKO Petroleumopened on February 12 at $17.75. The company priced 11.11M shares at $18.00. The deal size was increased from 10.5M shares and priced at the low end of the $18.00-$20.00 target range. ARKO Petroleum, a fuel distribution company, is one of the largest wholesale fuel distributors by gallons in North America, supplying customers in more than 30 states across the Mid-Atlantic, Midwestern, Northeastern, Southeastern, and Southwestern United States.Solv Energyopened on February 11 at $30. Solv Energy, a provider of infrastructure services to the power industry, priced 20.5M shares at $25.00, at the top of the $22.00-$25.00 range.AGIopened on February 11 at $11.00. AGI, a technology-powered provider of specialized financial services in Brazil, priced 20M shares at $12.00. The deal priced at the low end of the $12.00-$13.00 target range.Jaguar Uraniumopened on February 10 at $5. Jaguar Uranium, a South American uranium exploration and development company focused on uranium discoveries in Argentina and Colombia, priced its initial public offering of 6.25M Class A common shares at a price of $4.00 per share.RECENT SPAC IPOS:XFLH Capitalopened on February 12 at $9.97. The company priced its initial public offering of 10M units at an offering price of $10.00 per unit. Each unit consists of one ordinary share and one right to receive one-seventh of an ordinary share upon the consummation of an initial business combination.HCM IV Acquisitionopened on February 12 at $10.05. The company priced its initial public offering of 25M units at $10.00 per unit. Each unit consists of one Class A ordinary share and one-quarter of one redeemable warrant.D. Boral Acquisition Iopened at $10. While the company may pursue an acquisition opportunity in any business, industry, sector or geographical location, the company intends to focus on industries that complement its management team's background, and to capitalize on the ability of its management team to identify and acquire a business.Idea Acquisitionopened on February 11 at $9.94. While the company may pursue an initial business combination in any industry, sector or geographic region, it expects to target opportunities and companies that are operating in the software vertical that leverages large language models or other artificial intelligence tools.PERFORMANCE:Prices as of 11:00 am ET on Monday, February 17 -ARKO Petroleum – up almost 1% at $18.11;Solv Energy – fractionally down at $32.24;AGI – down over 1% at $10.86;Jaguar Uranium – down more than 2% at $3.25.RECENT IPOS TO WATCH:EquipmentShareand BitGoare already seeing coverage roll out as the quiet periods for banks that underwrote the companies' IPOs expire.UPCOMING IPOS:Upcoming IPO and direct listings expected include PayPay, OpenAI, Speed Group, and Lendbuzz.Clickto see upcoming IPO calendar on TipRanks.PayPay Corporationfiled for an initial public offering of American depositary shares, or ADSs, and has applied to list the ADSs on the Nasdaq Global Select Market under the symbol "PAYP." The prospects filed with the SEC states, "As Japan's leading financial technology company, we are dedicated to our goal of becoming a digital finance platform for all... We launched this service in October 2018 and it rapidly expanded to become a nation-wide leading cashless payments ecosystem that had approximately 72 million PayPay registered users as of December 31, 2025, representing a penetration of 75% among 96 million smartphone users in Japan. With the acquisition of PayPay Card Corporation in October 2022, our platform evolved to a next-generation payments ecosystem, seamlessly integrating our code-based payment and credit card payment services through our PayPay app."OpenAIis accelerating its plans for a public listing as rivalry with Anthropic intensifies, now planning on listing in Q4 of this year, Berber Jin, Corrie Driebusch, and Kate Clark of The Wall Street Journal. OpenAI is holding discussions with Wall Street banks about a potential initial public offering and has hired several executives to oversee its finance team, sources told the Journal.Elon Musk is targeting mid-June for the timing ofSpaceX's initial public offering, IPO, Ivan Levingston, Stephen Morris, and Mercedes Ruehl of The Financial Times, citing five people familiar with the matter. The company is looking to raise $50B at a valuation of $1.5T, the sources added.Speed Groupfiled a prospectus for 2.5M share initial public offering. It expects the IPO price to be in the range of $4.00 to $5.00 per. The company's operating subsidiary, Speed Logistics, is an e-commerce logistics provider providing end-to-end logistics solution in Hong Kong, Europe and North America. The services include warehousing, customs clearance, air transportation, and final delivery from the European airports. For the years ended June 30, 2024 and 2025, Speed's revenues were $17.9M and $22.64M, respectively.Lendbuzz Inc.is offering an undetermined number of shares of its common stock and the selling stockholders identified in this prospectus are offering additional shares of common stock, according to an initial public offering prospectus filed with the SEC. The company has applied to list its common stock on the Nasdaq Global Select Market under the symbol "LBZZ." The prospectus states: "Our mission is to offer fair access to credit for underserved populations. We are a financial technology company that utilizes artificial intelligence, or AI, and machine learning algorithms to better assess consumer credit risk and expand access to credit. We seamlessly process large sets of data through advanced computational approaches to more accurately predict a consumer's creditworthiness. Our business benefits both consumers through expanded access to credit, and auto dealerships via increased vehicle sales."Opening Day" is The Fly's recurring series of stories on the latest initial public offerings, their performance, and upcoming IPOs.
