Sinda, DPC Holdings, and DSC Holdings Successfully Debut in IPOs
A handful of deals opened last week across metals exploration, aerospace components, and AI infrastructure, with Sinda, DPC Holdings, and DSC Holdings all making their market debuts.LATEST IPOS AND DIRECT LISTINGS:Sindaopened on June 26 at $10.80. The company priced 17.75M shares at $12.00, inside the $11.25-$13.25 target range. Sinda, a silver exploration company with mineral projects in Mexico.DPC Holdingsopened on June 25 at $44.00. The company priced 27.86M shares at $33.00. The deal size was increased to 27.86M shares from 23.3M and priced above the $28.00-$32.00 range. DPC Holdings, doing business as Doncasters, is an independent manufacturer of complex, highly engineered precision cast components and nickel- and cobalt-based superalloys primarily serving the high growth Aerospace and IGT end markets.DSC Holdingsopened on June 25 at $16. The company priced its initial public offering of 3M American depositary shares at $17 per ADS. The deal priced at the midpoint of the $16.00-$18.00 target range. DSC offers AI application infrastructure for China's used car industry.RECENT SPAC IPOS:Alpex Acquisitionopened on June 25 at $10.01. Alpex is a blank check company formed to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.Cartesian Growth Corporation IVopened on June 25 at $9.95. Cartesian is a blank check company organized for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities.Gores Holdings XIopened on June 23 at $10.05. Santander is acting as the sole underwriter for the offering.PERFORMANCE:Prices as of 10.45 am ET on Monday, June 29Sinda – fractionally up at $12.03;DPC Holdings – up almost 3% at $48.44;DSC Holdings – down about 4% at $6.97.RECENT IPOS TO WATCH:Quantinuum, Innio, Sunshine Silver Mining & Refining, Applied Aerospace & Defense, and Liftoff Mobileare 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 Bending Spoons, Kardigan, Inspire Brands, and Tarsier Pharma.Clickto see upcoming IPO calendar on TipRanks.Bending Spoons, a technology company whose main businesses include AOL, Brightcove, Eventbrite, Evernote, Harvest, komoot, Remini, StreamYard, Vimeo, and WeTransfer, announces that it has publicly filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of its ordinary shares. The timing of the offering, number of shares to be offered, and the price range for the proposed offering have not yet been determined. Bending Spoons has applied to list its ordinary shares on the Nasdaq Global Select Market under the ticker symbol "BSP."Kardiganhas filed an initial public offering of shares of its common stock. The company has applied to list its common stock on the Nasdaq Global Market under the symbol "KARD." JP Morgan, Jefferies, Leerink Partners, and TD Cowen are acting as the underwriters for the offering.Inspire Brandsannounced that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. Inspire Brands expects to use the net proceeds of the proposed offering to repay outstanding indebtedness under its existing term loan facility and pay offering fees and expenses.Tarsier Pharma Ltd.filed for an initial public offering of its ordinary shares and applied to list its ordinary shares on the NYSE American under the symbol "TARX". The prospectus stated: "Tarsier Pharma is developing TRS01 and TRS02, novel product candidates based on dazdotuftide, a new molecule with a new mechanism of action for uveitis and uveitic glaucoma. We are attempting to address a significant, underserved market opportunity and have engaged closely with the FDA on our clinical development strategy, including a Special Protocol Assessment agreement for our planned pivotal trial... Although we are still early in this journey, I believe we have the technology, the team, the discipline, and the persistence required to build an enduring company."Opening Day" is The Fly's recurring series of stories on the latest initial public offerings, their performance, and upcoming IPOs.
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Sinda Ltd. Successfully Completes IPO
- Successful IPO: Sinda Ltd. has successfully closed its initial public offering, issuing 17,750,000 shares of common stock at a price of $12.00 per share, raising approximately $213 million, indicating strong market interest in its silver mining projects.
- Exchange Listing: The company's common stock began trading on the New York Stock Exchange on June 26, 2026, under the ticker symbol 'SIND', marking a significant milestone in its capital market journey and expected to enhance its brand visibility and market influence.
- Strong Underwriting Team: Morgan Stanley, Scotiabank, and BMO Capital Markets acted as joint lead book-running managers for the offering, showcasing their robust network and expertise in capital markets, which will facilitate future financing activities.
- Significant Resource Potential: Sinda's mineral projects in Mexico are estimated to contain 369 million ounces of inferred mineral resources and 16 million ounces of indicated mineral resources, with aggressive exploration and drilling plans aimed at advancing towards commercial production, thereby enhancing its competitive position in the market.
SK hynix Files for US Cross-Listing, Aiming for $29 Billion IPO
- SK hynix IPO Filing: South Korean semiconductor giant SK hynix (SKHY) has officially filed for a US cross-listing, aiming to raise approximately $29 billion, which would position it as the second-largest IPO in history, underscoring its leadership in the global semiconductor market.
- DPC Holdings Successful Listing: Engine products manufacturer DPC Holdings (DPC) successfully priced above expectations, raising $919 million with a market cap of $4.8 billion, reflecting strong demand for its aerospace engine and industrial gas turbine products.
- Sinda Mining Flat Performance: Mexican silver mining company Sinda (SIND) raised $213 million at a valuation of $1.9 billion, pricing slightly below the midpoint; despite lacking a mine plan, its potential in resource development remains a point of interest.
- DSC Holdings Plummets on Debut: Chinese software firm DSC Holdings (DSC) priced at $51 million with a market cap of $905 million, but saw a staggering 47% drop on its first day, indicating concerns over its profitability and market confidence in its used car transaction services.
Sinda Lists on NYSE Following Major Silver Discovery in Mexico
- Major Discovery: Sinda has uncovered a high-grade silver-gold deposit in Mexico's Guanajuato region, estimated to contain 369 million ounces of Inferred Mineral Resources and 16 million ounces of Indicated Mineral Resources, indicating significant potential for becoming a globally significant mining operation.
- Strategic Investments: Fresnillo plc and Franco-Nevada are participating as key investors in Sinda's IPO, subscribing for up to 5% of shares and a $10 million investment, respectively, reflecting strong market confidence and bolstering the company's financial foundation.
- Future Plans: Sinda intends to use the proceeds for a multi-year exploration and infill drilling program, alongside constructing a 9-kilometer underground exploration decline, with initial production targeted by 2031, demonstrating a clear strategy for future growth.
- Management Team Advantage: The management team at Sinda comprises seasoned Mexican mining experts, supported by The Electrum Group, ensuring efficient project advancement and effective resource development, thereby enhancing the company's position in a competitive mining landscape.
Sinda Raises $213 Million in Silver Mining IPO
- Funding Achievement: Sinda successfully raised $213 million by offering 17.8 million shares at $12 each, slightly below the midpoint of the $11.25 to $13.25 range, indicating cautious optimism in the market regarding its silver mining project.
- Key Investor Backing: Franco-Nevada, as a cornerstone investor, subscribed to $10 million worth of shares, representing 5% of the offering, while Fresnillo agreed to purchase up to $110 million in a concurrent private placement, bolstering market confidence in Sinda.
- Project Overview: Focused on the development of the Sinda Property in Guanajuato, Mexico, Sinda has yet to establish a mine plan or commence production, primarily engaging in exploration drilling and geological assessments over a mineralized strike length of approximately 182 kilometers, highlighting its potential resource value.
- Market Positioning: The company will trade on the NYSE under the ticker SIND, with joint bookrunners including Morgan Stanley and Scotia Capital, reflecting its recognition in the capital markets and potential for future growth.
Sinda Ltd. Prices Initial Public Offering at $12.00 per Share
- IPO Pricing: Sinda Ltd. has announced the pricing of its initial public offering at $12.00 per share for 17.75 million shares, potentially raising approximately $213 million to fund its future silver mining projects.
- Underwriter Selection: Morgan Stanley, Scotiabank, and BMO Capital Markets are acting as joint lead book-running managers, enhancing market confidence in Sinda's offering through their expertise and reputation.
- Listing Timeline: Sinda's common stock is expected to begin trading on the New York Stock Exchange on June 26, 2026, under the ticker symbol 'SIND', which will provide the company with broader market exposure and a larger investor base.
- Resource Potential: Sinda's mineral projects in Mexico feature an estimated 369 million ounces of inferred mineral resources and 16 million ounces of indicated mineral resources, with future exploration targets potentially reaching 484 million ounces of silver equivalent, highlighting its significant growth potential in silver mining.
Sinda Silver Miner Plans $217 Million IPO with Key Investments
- IPO Financing Plan: Sinda aims to raise $217 million by offering 17.8 million shares at a price range of $11.25 to $13.25, indicating market recognition of its silver mining development potential.
- Key Investor Support: Cornerstone investor Franco-Nevada has committed to $10 million, representing 4.6% of the offering, while Fresnillo has agreed to purchase up to $110 million in shares contingent on the IPO raising at least $199 million, bolstering market confidence.
- Market Valuation Outlook: At the midpoint of the proposed range, Sinda would command a fully diluted market value of $2.1 billion, reflecting optimistic investor expectations for its future development despite not yet having established a mine plan.
- Operational Background: Sinda focuses on developing the Sinda Property in Guanajuato, Mexico, primarily conducting exploration drilling and geological assessments to date, with no revenue generated and reliance on sponsor funding for exploration activities.
Sinda Ltd. Successfully Completes IPO
- Successful IPO: Sinda Ltd. has successfully closed its initial public offering, issuing 17,750,000 shares of common stock at a price of $12.00 per share, raising approximately $213 million, indicating strong market interest in its silver mining projects.
- Exchange Listing: The company's common stock began trading on the New York Stock Exchange on June 26, 2026, under the ticker symbol 'SIND', marking a significant milestone in its capital market journey and expected to enhance its brand visibility and market influence.
- Strong Underwriting Team: Morgan Stanley, Scotiabank, and BMO Capital Markets acted as joint lead book-running managers for the offering, showcasing their robust network and expertise in capital markets, which will facilitate future financing activities.
- Significant Resource Potential: Sinda's mineral projects in Mexico are estimated to contain 369 million ounces of inferred mineral resources and 16 million ounces of indicated mineral resources, with aggressive exploration and drilling plans aimed at advancing towards commercial production, thereby enhancing its competitive position in the market.
SK hynix Files for US Cross-Listing, Aiming for $29 Billion IPO
- SK hynix IPO Filing: South Korean semiconductor giant SK hynix (SKHY) has officially filed for a US cross-listing, aiming to raise approximately $29 billion, which would position it as the second-largest IPO in history, underscoring its leadership in the global semiconductor market.
- DPC Holdings Successful Listing: Engine products manufacturer DPC Holdings (DPC) successfully priced above expectations, raising $919 million with a market cap of $4.8 billion, reflecting strong demand for its aerospace engine and industrial gas turbine products.
- Sinda Mining Flat Performance: Mexican silver mining company Sinda (SIND) raised $213 million at a valuation of $1.9 billion, pricing slightly below the midpoint; despite lacking a mine plan, its potential in resource development remains a point of interest.
- DSC Holdings Plummets on Debut: Chinese software firm DSC Holdings (DSC) priced at $51 million with a market cap of $905 million, but saw a staggering 47% drop on its first day, indicating concerns over its profitability and market confidence in its used car transaction services.
Sinda Lists on NYSE Following Major Silver Discovery in Mexico
- Major Discovery: Sinda has uncovered a high-grade silver-gold deposit in Mexico's Guanajuato region, estimated to contain 369 million ounces of Inferred Mineral Resources and 16 million ounces of Indicated Mineral Resources, indicating significant potential for becoming a globally significant mining operation.
- Strategic Investments: Fresnillo plc and Franco-Nevada are participating as key investors in Sinda's IPO, subscribing for up to 5% of shares and a $10 million investment, respectively, reflecting strong market confidence and bolstering the company's financial foundation.
- Future Plans: Sinda intends to use the proceeds for a multi-year exploration and infill drilling program, alongside constructing a 9-kilometer underground exploration decline, with initial production targeted by 2031, demonstrating a clear strategy for future growth.
- Management Team Advantage: The management team at Sinda comprises seasoned Mexican mining experts, supported by The Electrum Group, ensuring efficient project advancement and effective resource development, thereby enhancing the company's position in a competitive mining landscape.
Sinda Raises $213 Million in Silver Mining IPO
- Funding Achievement: Sinda successfully raised $213 million by offering 17.8 million shares at $12 each, slightly below the midpoint of the $11.25 to $13.25 range, indicating cautious optimism in the market regarding its silver mining project.
- Key Investor Backing: Franco-Nevada, as a cornerstone investor, subscribed to $10 million worth of shares, representing 5% of the offering, while Fresnillo agreed to purchase up to $110 million in a concurrent private placement, bolstering market confidence in Sinda.
- Project Overview: Focused on the development of the Sinda Property in Guanajuato, Mexico, Sinda has yet to establish a mine plan or commence production, primarily engaging in exploration drilling and geological assessments over a mineralized strike length of approximately 182 kilometers, highlighting its potential resource value.
- Market Positioning: The company will trade on the NYSE under the ticker SIND, with joint bookrunners including Morgan Stanley and Scotia Capital, reflecting its recognition in the capital markets and potential for future growth.
Sinda Ltd. Prices Initial Public Offering at $12.00 per Share
- IPO Pricing: Sinda Ltd. has announced the pricing of its initial public offering at $12.00 per share for 17.75 million shares, potentially raising approximately $213 million to fund its future silver mining projects.
- Underwriter Selection: Morgan Stanley, Scotiabank, and BMO Capital Markets are acting as joint lead book-running managers, enhancing market confidence in Sinda's offering through their expertise and reputation.
- Listing Timeline: Sinda's common stock is expected to begin trading on the New York Stock Exchange on June 26, 2026, under the ticker symbol 'SIND', which will provide the company with broader market exposure and a larger investor base.
- Resource Potential: Sinda's mineral projects in Mexico feature an estimated 369 million ounces of inferred mineral resources and 16 million ounces of indicated mineral resources, with future exploration targets potentially reaching 484 million ounces of silver equivalent, highlighting its significant growth potential in silver mining.
Sinda Silver Miner Plans $217 Million IPO with Key Investments
- IPO Financing Plan: Sinda aims to raise $217 million by offering 17.8 million shares at a price range of $11.25 to $13.25, indicating market recognition of its silver mining development potential.
- Key Investor Support: Cornerstone investor Franco-Nevada has committed to $10 million, representing 4.6% of the offering, while Fresnillo has agreed to purchase up to $110 million in shares contingent on the IPO raising at least $199 million, bolstering market confidence.
- Market Valuation Outlook: At the midpoint of the proposed range, Sinda would command a fully diluted market value of $2.1 billion, reflecting optimistic investor expectations for its future development despite not yet having established a mine plan.
- Operational Background: Sinda focuses on developing the Sinda Property in Guanajuato, Mexico, primarily conducting exploration drilling and geological assessments to date, with no revenue generated and reliance on sponsor funding for exploration activities.
