With electric vehicles a hot theme in recent weeks, the timing of Rivian Automotive (NASDAQ: RIVN) blockbuster IPO appears to playing to the sector tailwinds. It also follows the passage of US President Joe Biden US$1.2 trillion infrastructure bill, which includes billions of dollars in spending to create a national network of EV charging stations, alongside heavy investment in clean energy and renewables.

Electric vehicle maker Rivian plans to offer 135 million shares for a price between US$72 per share and US$74 per share, markedly higher than the US$57-62 range previously indicated. Despite only posting modest levels of revenue, at the top end of that range the IPO could prescribe a value of more than US$65 billion to the Amazon and Ford-backed company, a level similar to the valuation of Nio (NYSE: NIO) and Ford (NYSE: F).The other IPOs likely to be on the radar this week include global car rental agency Hertz Global (NASDAQ: HTZ), which filed for bankruptcy last year and reemerged this year as a profitable business now planning to raise US$1 billion for a US$13.9 billion valuation, and ASX aspirant SiteMinder (ASX: SDR), the world's leading open-hotel commerce platform that helps hotels to sell, market, manage and grow their business from one place.

Upcoming IPOs

MarketCompanyFocusIPO size  Expected debutASXSiteMinder (SDR)Open hotel commerce platform$627mNov 8ASXDundas Minerals (DUN)Gold, nickel and copper explorer$6mNov 9ASXGreen Technology Metals (GT1) Lithium explorer$24mNov 10ASXCosmos Exploration (C1Z)Gold, nickel and copper explorer$5mNov 11

USHertz Global Holdings (HTZ)Global car rental agencyUS$1bnNov 9USSociety Pass (SOPA)E-commerce enablerUS$27mNov 9USThird Coast Bank (TCBX)Regional bank based out of Texas US$75mNov 9USExpensify (EXFY)Cloud-based expense management platformUS$234mNov 10USCI&T (CINT)Outsourced IT development servicesUS$350mNov 10USFlexEnergy Green Sol. (FLXE)Turbine systems and heat exchangersUS$35mNov 10USRivian (RIVN)Electric van, SUV and pick-up makerUS$9.9bnNov 10USWeave Communications (WEAV) SME customer engagement platformUS$133mNov 11USBackblaze (BLZE)Consumer and SME cloud-storage businessUS$100mNov 11USMyarnic (MYNA)Laser tech for aerospace commsUS$70mNov 11USLulu Fashion Lounge (LVLU)Digital women apparel storeUS$101mNov 11

*All dates are subject to change and should be treated as an indicative guide only

Future Listings

Rewards and loyalty solutions business My Rewards is one step closer to the ASX, with the company officially launching its IPO. Boasting more than 100 clients across the ANZ region, My Rewards intends to use the proceeds from its float, up to $7 million, to roll out its corporate programs to a wider group of clients.Meanwhile, electrical products distributor IPD Group has also kicked off its ASX IPO, eying around $40 million from investors. The company is forecasting revenue to hit $170 million in FY22, nearly double the $89 million recorded in 2020. Should the raise proceed as planned, the business would have an enterprise value of circa $100 million.Coming into the Thanksgiving holiday in America, the number of initial filings for new listings dropped to five last week. Most of these are small-cap names, however, Brazilian fintech Nu Holdings and cloud infrastructure firm HashiCorp were the biggest of the bunch, hoping to raise US$3 billion and US$500 million respectively.