This Week in IPOs — Two National Records, One Monday
GCash and Firmus Technologies both open public order books on October 6, while DayOne Data Centers and Lycia Therapeutics file fresh IPO paperwork.
Four companies moved on the IPO calendar inside a 48-hour window this week, and two of them happen to be opening their public order books on the exact same day: October 6. One is the Philippines' largest-ever listing. The other would be Australia's largest float since Telstra's 1997 privatization. Neither company competes with the other, operates on the other's continent, or shares an industry — the only thing they share is a date, which is itself a reminder that the global IPO calendar runs on its own clock, not a single market's cycle.
Two records open their books the same Monday
Mynt, the parent of Philippine mobile-wallet GCash, opens its retail offer period today and runs it through October 12, with listing on the Philippine Stock Exchange targeted for October 20 under ticker GCASH. The pricing itself is already settled — Mynt cut its price 34% from the top of its range on October 1 and sold the deal anyway, backed by roughly 36.5 billion pesos in cornerstone commitments from more than 20 institutions. What opens today is the retail window: ordinary Filipino investors, many of them GCash's own 94 million registered users, get their first chance to actually buy in. The original pipeline listing for Mynt covers the ownership structure and scale in more detail.
On the other side of the world, Firmus Technologies opened its own book to the public the same day. The Singapore-based, Nvidia-backed operator of immersion-cooled AI data centers across Australia priced shares at A$11 and is targeting a raise in the mid-single-digit billions (Australian dollars), with trading expected to begin around October 22–23. If the float completes near that size, it would rank as Australia's largest IPO since Telstra's 1997 government privatization — a benchmark Australian bankers have been citing explicitly rather than comparing it to any recent float. Roughly half the offering is earmarked for existing strategic and financial backers, including Nvidia, Blackstone, Coatue and Jane Street, rather than new public money, which means a meaningful share of Firmus's float is effectively pre-spoken-for before the broader book even clears. Both companies are tracked in the pipeline until they list, at which point they'll move into the recent-IPOs tracker alongside every other listing from the past three months.
The coincidence of timing is just that — a coincidence. GCash and Firmus were each working through their own regulatory calendars (Philippine SEC and PSE clearance on one side, ASX and Australian corporate-advisory process on the other) that happened to converge on the same Monday. But it's a useful reminder that "this week in IPOs" isn't one story with one through-line; it's several unrelated processes that occasionally line up on a calendar.
Two new names join the pipeline on paper
While GCash and Firmus were opening books, two other companies filed fresh public paperwork on October 5. DayOne Data Centers, a Singapore-based operator that builds and runs data centers for cloud and AI customers across Malaysia, Hong Kong, Japan, Finland and Spain, filed a public Form F-1 for a Nasdaq listing of American Depositary Shares under ticker DODC. DayOne was spun off from Chinese data-center operator GDS Holdings in 2025 and closed a $4.5 billion Series C round in June 2026 before moving toward a US listing — notable timing given that peer SB Energy delayed its own IPO roadshow just weeks earlier over valuation pushback. DayOne filing publicly anyway suggests the company isn't waiting to see how that story resolves before testing its own reception.
Lycia Therapeutics, a South San Francisco-based clinical-stage biotech, also filed a public S-1 the same day for a Nasdaq Global Market listing under ticker LYCA. Lycia is developing LYTAC-platform drugs that degrade disease-causing extracellular proteins, with lead programs targeting food allergy and Graves' disease, and closed an oversubscribed $75 million Series D in June 2026 co-led by Janus Henderson and Balyasny Asset Management. One detail worth noting: Lycia's CFO, Amy Bachrodt, joined in June 2026 after six years at Maze Therapeutics, where she helped lead that company's own 2025 IPO — a biotech finance executive moving directly from one company's listing process into steering the next one.
Reading four unrelated filings as one week
None of these four — a retail offer period opening, a bookbuild pricing, and two public filing debuts — are connected by sector, geography, or mechanism. That's actually the point of tracking a pipeline this broad: on any given week, the calendar is going to serve up a data-center operator, a mobile-wallet super-app, and a biotech in the same few days, each at a completely different stage of the same basic process — from a confidential filing becoming public, to a book opening, to a retail window, to an actual trading debut. A reader who only checks in occasionally sees isolated headlines; a reader who tracks the pipeline continuously sees the same four or five stages repeating across completely different companies, which is a better way to judge how "hot" or "cold" the broader IPO market actually is than any single deal's reception. DayOne and Lycia are now both several stages behind GCash and Firmus — and both are worth watching for when their own order books eventually open.