Global IPO Calendar: US and Europe Listings — 2026-10-09
The global IPO window remains open but increasingly selective, with high-profile withdrawals like Firmus Technologies' $44 billion listing contrasting against active smaller deals. In Europe, N4 Group launched a €50 million IPO on Euronext Growth, while US markets saw Retension Pharmaceuticals price at the bottom of its range amid tech sector volatility. <!-- /headline --> **High-Profile IPOs Pulled as Market Volatility Weighs on Global Listings** <!-- /headline -->
Global IPO Calendar: US and Europe Listings — 2026-10-09
The global IPO window remains open but increasingly selective, with high-profile withdrawals like Firmus Technologies' $44 billion listing contrasting against active smaller deals. In Europe, N4 Group launched a €50 million IPO on Euronext Growth, while US markets saw Retension Pharmaceuticals price at the bottom of its range amid tech sector volatility.
<!-- /headline -->High-Profile IPOs Pulled as Market Volatility Weighs on Global Listings
<!-- /headline -->Top developments
Firmus Technologies Withdraws $44 Billion IPO
Australian AI data center provider Firmus Technologies pulled its anticipated A$44 billion (approx. US$28.6 billion) IPO just 72 hours after launching its roadshow. The withdrawal was driven by investor skepticism regarding the company's valuation, debt levels, and unfinished AI capacity, marking a significant setback for the global IPO market in 2026. Investors reportedly accused the underwriting syndicate of providing misleading information, highlighting the heightened scrutiny facing large-scale listings this year.
N4 Group Launches €50 Million IPO in Paris
French sports nutrition and wellness company N4 Group, known for its Tibo InShape brand, launched an initial public offering on Euronext Growth Paris on October 9, 2026. The deal targets raising €50 million through the sale of 2,099,957 shares at a fixed price of €23.81 per share. This listing represents one of the few active European IPOs amid a broader trend of delayed or shelved high-profile deals in the region.
Retension Pharmaceuticals Prices at Bottom of Range
US biotech firm Retension Pharmaceuticals priced its Nasdaq IPO at $12 per share, hitting the bottom of its marketed range. The pricing reflects cautious investor sentiment in the healthcare sector as broader tech volatility impacts risk appetite across listings.
Jersey Mike’s Prices IPO at $23.00
Sandwich franchise chain Jersey Mike’s announced the pricing of its IPO at $23.00 per share for 43,478,261 shares of Class A common stock. The offering proceeds are expected to support further expansion, though specific first-day trading performance details were not immediately available in the latest updates.
Local view
In France, media outlets are focusing on the mixed reception of European listings, with Boursorama reporting that several highly publicized IPOs have been victims of market nervousness in 2026, leading to cancellations and delays. Conversely, financial news from Germany highlights that the DAX began Friday trading with gains despite earlier volatility, suggesting that while large IPOs may be stalling, secondary market activity remains resilient.
Context & numbers
The global IPO market has faced significant headwinds in 2026, with high-profile listings such as Oura, PhonePe, and KNDS being reassessed or delayed due to valuation concerns. Despite these setbacks, the window remains open for selective deals, with Anthropic’s potential filing looming as a key catalyst for future activity.
On the radar
- Anthropic IPO: Market speculation continues regarding a potential mid-November filing by AI firm Anthropic, which could revive the AI trade if confirmed.
- European Regulatory Changes: EU states have agreed on the creation of a "super" European market supervisor (Esma), excluding Deutsche Börse from certain controls, which may impact future listing frameworks.
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