Listing documents, read point by point

Independent reviews of IPO and listing documents in the United States and the United Kingdom. Each review sets out the points to read closely and the points worth checking, with the document's own words and the page they are on. Sign in to ask your own questions, answered only from the document.

From the creator of Review DRHPs, evidence-linked reviews of Indian IPO prospectuses.

United States

Form S-1 registration statements filed with the SEC.

Anthropic, PBCNasdaq Global Select Market

Form S-1, filed with the SEC on 26 October 2026

Developer of AI models, incorporated as a Delaware public benefit corporation.

Point 1: One holder or group with most of the votes (p. 289)

3 to read closely 15 worth checking

Nscale LimitedNew York Stock Exchange

Form S-1, filed with the SEC on 18 September 2026

Builds and operates data centres and GPU computing capacity for AI workloads; a private company incorporated in England and Wales, to re-register as Nscale plc before the offering.

Point 1: Customers with a big share of revenue (p. F-9)

6 to read closely 8 worth checking

United Kingdom

Main Market

Prospectuses approved by the FCA for admission to the Main Market of the London Stock Exchange.

Airtel Mobile Commerce N.V.Main Market

Prospectus, published 1 October 2026 · Admission to the Main Market expected on 14 October 2026, as stated in the prospectus

Mobile money and digital financial services in 13 African countries; majority-owned by Airtel Africa.

Point 1: Most of the offer is existing shareholders selling (p. 261)

2 to read closely 5 worth checking

AIM

Admission documents for AIM, the London Stock Exchange's market for smaller and growing companies.

TEK4 Group plcAIM

AIM admission document, published 20 October 2026 · Admitted to AIM on 26 October 2026

UK maker of precision hole-drilling machines used to produce aero-engine and industrial gas turbine components.

Point 1: Reporting accountant's opinion modified (p. 51)

6 to read closely 8 worth checking

How each review is made. The same engine reads every document with a rulebook for its market. Code finds every quote again on its page and checks the document's own figures against each other; fixed rules rate each check. An independent reviewer checks every point against the document before publication.

What this is not. Information from the documents, not investment advice: no view on the price and no recommendation to buy or sell.

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