In the busiest week for the IPO market since February, three upsized IPOs and three SPACs entered the public market. Kingsoft Cloud (KC) led the way, completing the largest IPO since GFL Environmental's (GFL) billion-dollar deal in early March. The IPO Index's nearly 11% gain this past week indicates that the IPO market is continuing to recover.
Kingsoft Cloud, Kingsoft's spin-off of its cloud services and infrastructure division, upsized its ADS offering and priced at the midpoint to raise $510 million at a $3.5 billion market cap. The unprofitable company has ample opportunity in China's