With US IPOs not expected to pick up until after the Labor Day holiday, this week new listings will all be ASX-oriented, with each hoping for just a fraction of the success last week bolter in Kuniko Resources (ASX: KNI) enjoyed, which at one stage had skyrocketed 1700%.The biggest listing over the coming days will be Rubicon Water (ASX: RWL), a global, large-scale vertically-integrated water technology solutions business. As part of its operations Rubicon specialises in solutions that reduce spills and measure water with greater accuracy, thereby offering improved operational efficiencies when it comes to water supply for the likes of canals and irrigated land. The company has raised $42.6 million at $1 per share, for a valuation of $171.9 million.TEK-Ocean Group (ASX: T3K) is also on track to list this week, with the company offering services including but not limited to design, feasibility, equipment delivery and asset decommissioning across the energy industry. T3K tapped investors for $8 million at $0.50 per share. Queensland-based explorer Ballymore Resources (ASX: BMR) is also looking to make an impact, with the company now flush with $7 million in funding to explore gold, copper, silver and other base metals targets across its three key projects at Dittmer, Ruddygore and Ravenswood.

Upcoming IPOs

MarketCompanyFocusIPO sizeExpected debutASXRubicon Water (RWL)Water technology solutions business$42.6mSep 2ASXTEK-Ocean Group (T3K)End-to-end energy industry services$8mSep 2ASXBallymore Resources (BMR)Precious metals and base metals explorer$7mSep 3

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

Future Listings

The biggest IPO news over the last week comes courtesy of plans from Amazon-backed electric vehicle company Rivian, which on Friday announced that it has confidentially filed for an initial public offer. According to media reports the company, formed back in 2009, is eyeing a potential valuation of around US$80 billion, although it has shied away from providing any indicative timeline and details on the structure of the offer. 

Since the beginning of 2019, it is understood Rivian has raised US$10 billion, with investors including Amazon and Ford. Amazon is central to the company plans, having ordered 100,000 EV delivery vans from the auto-maker to be staggered over multiple years, although Rivian is also working on SUVs and pick-up trucks for the public.

Meanwhile, with another 15 companies submitting initial filings in the US, the busy pipeline is getting ready to explode. Leading the way is payments processing business Toast (TOST), which works primarily with restaurants and is looking to capitalise upon the boom in take-away services, with revenue more than doubling in the first half of this calendar year. It is tipped to seek US$1 billion in fresh capital for a potential valuation up to US$20 billion.Digital identity management platform ForgeRock (FORG) is also working towards a US IPO, as are the likes of business solutions software provider Freshworks (FRSH), customer engagement solutions provider EngageSmart (ESMT), identity verification platform Sterling Check (STER) and Roger Federer-backed sneaker business On Holding (ONON), which is tipped for a market cap of between US$6 billion to US$8 billion.Closer to home, human services group APM is inching towards a prospective float after more than 30 years in private ownership. The international business, which helps workers seek employment or support after illness and injury, generates in excess of $1 billion per annum, and could be one of the largest IPOs for 2021 if it lists at a value of around $2 billion.Other names in the news over the past week include junior resource explorers iTech Minerals and Star Minerals. The former is a South Australian-based explorer eyeing $5 million to $7 million to advance kaolin and halloysite projects it has picked up from former resources explorer Archer Materials (ASX: AXE). On the other hand, Star Minerals is a West Australian gold hopeful that acquired its key project as part of a sales agreement with Bryah Resources (ASX: BYH).

Be sure to keep an eye out for our end-of-week bulletin covering all the major results among new ASX and US IPOs.