Three junior resources explorers will make their way to the ASX this week, offering exposure to an array of commodities, while fitness and biotech names headline the US IPO calendar this week.

Upcoming IPOs

MarketCompanyFocusIPO sizeExpected debutASXAlvo Minerals (ALV)Copper, zinc, precious metals & lead explorer$10m6 OctASXNickelSearch (NIS)Nickel sulphide explorer$6m6 OctASXE79 Gold Mines (E79)Gold explorer $7m7 OctASXActiveport Group (ATV)Software-defined networking tool$15mTBA

USiFIT Health & Fitness (IFIT)Home fitness equipment and subscriptionUS$600mOct 6USLife Time Group (LTH)Premium health and fitness chainUS$901mOct 7USCingulate (CING)Phase 3 biotech for ADHD stimulant drugsUS$50mTBCUSIsoPlexis (ISO)Single-cell proteomics platformUS$125mTBCUSTheseus Pharma (THRX)Preclinical biotech for solid tumoursUS$125mTBC

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

Future Listings

Bamboo underwear retailer Step One has kicked off its tilt at the ASX, with the business eyeing $81.3 million via shares priced at $1.53 each. On that basis, the deal would give the company a value of circa $290 million, or 16.1-times forecast EBITDA for FY22. The company, which has hopes to enter the US market, sells its goods via a direct-to-consumer model, with its founder, Greg Taylor, set to retain a two-thirds stake in Step One upon listing. In other developments, regenerative wound-healing firm Tissue Repair is expected to submit its prospectus this week as it plans to raise $22 million for an ASX IPO. The company, which differentiates itself from peers like PolyNovo (ASX: PNV) and Avita Medical (ASX: AVH) thanks to its use of a topical gel for wound-healing, is raising money at a valuation of $69 million. Tissue Repair plans to launch a phase three trial in 2022.It not the only biotech name in the spotlight, as probiotics business Biome looks to float on the ASX. Biome, which sells more than 20 products and generates around $3.6 million in annualised revenue, is seeking $8 million for a $40 million valuation.

Further details also emerged on profitable betting data provider Racing and Sports. The firm, which powers data for the likes of Sportsbet and Tabcorp among others, will attempt to raise $20 million via IPO for a $66 million valuation. Racing and Sports has been operating for more than 20 years, and if all goes well, the IPO will take place in late November. 

From overseas, the biggest development was further details from IPO-hopeful and electric vehicle-maker Rivian. The company, a competitor to the likes of Tesla (NASDAQ: TSLA), is seeking as much as US$8 billion for a valuation of up to US$80 billion, which could make it the fourth-largest US IPO of the decade. In new data, Rivian accounts showed a loss of US$994 million in the first half of this year, compared with a loss of US$1 billion for the entirety of last year. Thanks to high-profile backers like Amazon (NASDAQ: AMZN) and Ford (NYSE: F) among others, Rivian has raised over US$10.5 billion since the start of 2019. It plans to use the funds to accelerate growth and R&D efforts, including the launch of its R1S SUV. To date, the company has recorded its own feats in launching the first electric pick-up truck in the US market, and the largest individual EV order of any vehicle-maker, when Amazon bought up to 100,000 of its electric delivery vans. Rivian is tipped to make its listing in late November.Alongside Rivian, another 16 companies submitted filings for a US IPO last week, with the most-prominent names being revenue cycle management company for hospitals Ensemble Health Partners, enterprise software firm Informatica, restaurant chain Portillo, and specialty chemicals producer Hexion Holdings.