“Huatai Securities (6886.HK), a mid-sized brokerage firm in China, raised $4.5 billion in its Hong Kong IPO. The China-based company now commands a market value of $22.4 billion and qualifies for inclusion in the Renaissance International IPO ETF at the market’s close on June 5, 2015,” according to a statement issued by Renaissance Capital.
IPOS, which debuted in October, is currently home to 93 stocks. The ETF’s holdings range in weight from 0.05% to 5.3% as of May 29, according to issuer data.
IPOS tracks the Renaissance International IPO Index. The ETF mixes developed and emerging markets with its largest country weight being 14.7% to China followed by 13% to the U.K. and 11.5% to Germany.
IPOS has the ability to add “sizable new companies on the fifth day of trading and the rest on scheduled quarterly reviews. Companies are removed after two years when the they become seasoned stocks,” according to Renaissance Capital.
Renaissance International IPO ETF
ETF Trends editorial team contributed to this post.
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