The last weekend of June brings a mixed picture from the US IPO market. Three companies completed their exchange debuts mid-last week, with results ranging from a resounding win to a painful loss, while several major offerings are already on deck for the week ahead.
DPC Holdings: The Week's Big Winner
The standout move belonged to DPC Holdings (Doncasters Group, ticker: DPC), a UK-based precision industrial components manufacturer that began trading on the NYSE on June 25. Founded in 1778, the company produces superalloy precision castings for aerospace and industrial gas turbine markets.
The upsized IPO priced at $33 per share, one dollar above the top end of the $28–$32 range. The company raised approximately $919 million at a valuation of roughly $4.7 billion at the offer price. Doncasters was backed by J.F. Lehman & Company.
On its first trading day, the stock opened at $44 and closed at $46.88, a 42% surge from the IPO price, one of the strongest debuts for an industrial company in June 2026. The stock subsequently stabilized around $47, with an intraday high near $49.
Sinda Ltd: Conservative Pricing, Weak Open
Silver mining company Sinda Ltd (ticker: SIND), focused on projects in Mexico, priced its IPO on June 25 at $12 per share, near the low end of the $11.25–$13.25 range. The company raised $213 million through the sale of 17.75 million shares.
Unlike Doncasters, Sinda opened its first trading day at $10.80, 10% below the IPO price, and traded in the $11.70–$12.00 range through the session. The pricing was accelerated from an originally planned June 30 date, suggesting sufficient institutional demand, though public sentiment was more cautious.
DSC Holdings: The Painful Miss
The week's biggest disappointment came from DSC Holdings (Dasouche, ticker: DSC), an Ant Group-backed Chinese AI infrastructure company. DSC was the first Chinese company to list on Nasdaq in 2026, following rare regulatory approval from Beijing.
The company priced 3 million ADSs at $17 per ADS (midpoint of the $16–$18 range), raising $51 million at a valuation of up to $901 million. Deutsche Bank led the underwriting alongside CICC and ICBC.
On its first trading day, the stock opened at $16, below the offer price, and collapsed to close at just $9.06, a decline of approximately 47% from the IPO price. It ranks among the weakest IPOs of the year, reflecting continued investor caution around Chinese companies listed in the US amid regulatory and geopolitical tensions.
The Week Ahead: Mega IPOs and Key Earnings
The coming week looks exceptionally busy. Monday (June 29) has five pricings scheduled, and Tuesday (June 30) has six. The highlight: Bending Spoons (expected ticker: BSP), the Italian tech company that owns Vimeo, WeTransfer, AOL, and Eventbrite. The company plans to raise approximately $1.6 billion at a valuation of roughly $19 billion, selling 58 million shares in the $26–$28 range. Goldman Sachs, J.P. Morgan, and Allen & Co. are leading the underwriting.
Other IPOs this week include ITG Inc. (digital infrastructure, ~$400 million), CopperTech Metals (CUX, ~$400 million), and Lime (LIME, ~$174 million).
On the earnings front, Nike (NKE) reports Q4 FY2026 results on Tuesday (June 30) after the close. Consensus estimates call for EPS of $0.12–$0.13 on revenue of approximately $10.85 billion, a roughly 2% year-over-year decline. Nike's "Win Now" turnaround strategy and Greater China performance will be key focuses. AeroVironment (AVAV) reports on Monday after the close, with expectations of $1.47 EPS on ~$559 million in revenue.
The Bottom Line
A split verdict from the IPO market this week: Doncasters proved that strong demand still exists for quality industrial plays with momentum, but Dasouche reminded investors that regulatory and geopolitical risk continues to weigh on Chinese names trading in the US. The week ahead, with Bending Spoons, Nike, and AeroVironment, will provide another test of market depth.
