IPO Week Preview
| Pricing date | First trade | Company | Ticker | Exchange | Price | Shares | Lead underwriter | Source | Status |
|---|---|---|---|---|---|---|---|---|---|
| Unknown | Mon Oct 26 | No firm debut verified | — | — | — | — | — | [1][2] | Unknown |
| Unknown | Week Oct 26; day unknown | OPay | OPAY | NYSE applied | $19–$21 | 16m ADS | Citi; Deutsche; Standard Bank; CICC | [1][3] | Tentative |
| Oct 26 tentative | Tue Oct 27 tentative | SPACCircle | SCQCU | Nasdaq proposed | $10/unit | 10m units | D. Boral | [1][2][4] | Proposed; Webull amount conflicts |
| Oct 26 per Webull | Tue Oct 27 per Webull | BW Industrial | BWGC | Unknown | $6–$7 | Unknown | Unknown | [2] | Unconfirmed |
| Unknown | Wed Oct 28 | No firm debut verified | — | — | — | — | — | [1][2] | Unknown |
| Unknown | Thu Oct 29 | No firm debut verified | — | — | — | — | — | [1][2] | Unknown |
| Unknown | Fri Oct 30 | No firm debut verified | — | — | — | — | — | [1][2] | Unknown |
Key Takeaways
- OPay proposes 16 million depositary shares at $19–$21, implying $304–$336 million gross; its precise pricing and trading dates remain unconfirmed.
- SPACCircle is tentatively listed for Tuesday October 27. Its proposed units combine shares, warrants and rights, so share supply requires scrutiny.
- BW Industrial appears for Tuesday on Webull but lacks confirmation in the other calendar checked.
- Bitari has moved to November in the calendars checked. Proposed terms and calendar entries do not establish completed offerings.
IPO Week Preview
October 26, 2026 | Week October 26–30, 2026
With staff and AI research assistance By Frank Whitaker and Stan Rosenberg
Research cutoff: 2026-10-26T01:35:34-06:00
Frank follows the payments
This week’s largest calendar entry leads to everyday payments. OPay is a Singapore-headquartered holding company with a digital banking business in Nigeria and operations in other markets. Its October 23 SEC amendment offers 16 million American depositary shares, each representing ten ordinary shares, at $19–$21. The proposed NYSE symbol is OPAY; listing approval remains a closing condition. [3]
A depositary share is a tradable wrapper for underlying shares. That ten-to-one ratio matters when comparing prices and share counts. Sixteen million ADS are not sixteen million ordinary shares. [3]
Stan checks the size
Multiplying the base ADS count by the proposed range gives $304 million to $336 million gross, with $320 million at the midpoint. Those figures precede fees and expenses and exclude the underwriters’ additional 2.4 million-ADS option. [3]
The prospectus also identifies up to $270 million of non-binding purchase interest. Interested investors may buy fewer shares or none; those expressions are not completed allocations. A separate conditional private placement is described, so the public offering alone does not capture every potential new share. [3]
IPOScoop reports trailing twelve-month revenue of about $805.8 million and net income of $49.9 million through June 30. Those calendar-service figures deserve checking against the financial statements before drawing a valuation conclusion. Currency exposure, regulation and the operating structure matter alongside growth. [5]
Frank opens a different box
SPACCircle is a blank-check company seeking a future acquisition, rather than an established operating business with products to assess today. IPOScoop describes a digital asset, technology and healthcare search and names John Dicconson as CEO and chairman. Its October 27 calendar date remains tentative. [4]
Its profile describes ten million $10 units, or $100 million gross. Each unit combines a share, a warrant and a right to half a share upon a business combination. Those instruments can create additional shares; the $10 unit price should not be compared directly with an ordinary share price. Webull displays a different offering amount, which is a reason to use the filed terms rather than average the two. [2][4]
Dates to keep in pencil
OPay is listed for the October 26 week without a verified day. SPACCircle and BW Industrial appear for October 27, with BW’s entry unconfirmed outside Webull in the calendars checked. No trading time was verified. Bitari appears for the November 2 week on IPOScoop and November 5 on Webull. [1][2]
The filings and calendar sources consulted by the research cutoff did not establish an additional dated investor meeting, earnings call or regulatory decision. This limited check does not imply there is no company news. Final pricing announcements and exchange notices remain the evidence to watch.
Sources
[1] IPOScoop calendar: tentative weekly dates. https://www.iposcoop.com/ipo-calendar/ [2] Webull calendar: alternative dates and conflicting amounts. https://www.webull.com.sg/quote/us/ipo [3] OPay SEC October 23 amendment: ADS terms, structure and conditional interest. https://www.sec.gov/Archives/edgar/data/2103076/000119312526430437/d56487df1a.htm [4] IPOScoop SPACCircle: business, leadership and proposed units. https://www.iposcoop.com/ipo/spaccircle-acquisition/ [5] IPOScoop OPay: business and financial cross-check. https://www.iposcoop.com/ipo/opay/
