Alaoui Zenere, Managing Director in Equity Capital Markets at J.P. Morgan, joins The Pop to shed light on the world of underwriting, including the IPO roadshow, bookbuilding, pricing, and how the allocation process actually works. We cover what companies are really choosing when they hire a banker, what an underwriter does behind the scenes, how management teams pitch public market investors, and how feedback from the roadshow turns into a book of demand. Alaoui also explains how banks, issuers, and investors work toward the final IPO price, how allocation decisions are made, and why the tradeoff between price, pop, and long-term shareholder quality matters. Drawing on experience across major fintech and crypto-adjacent public market debuts, including Coinbase, Robinhood, Circle, and Bullish, Alaoui shows how an IPO is not just a capital raise, but a market-entry process that shapes a company’s life as a public company.
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About the Guest
Alaoui Zenere
Managing Director, Equity Capital Markets, J.P. Morgan
Alaoui Zenere is a Managing Director in the Equity Capital Markets group at J.P. Morgan, where she heads the Financials, FinTech, and Real Estate teams within ECM. She advises clients and executes initial public offerings, secondary offerings, and broader capital markets transactions. Her transaction experience includes major public market debuts across traditional finance, fintech, and crypto-adjacent companies, including Coinbase, Robinhood, Circle, and Bullish.
About The Pop
The Pop is a podcast examining the science and hidden machinery of how companies go public and how markets actually work in the United States. Hosted by Robert Leshner, a founder and operator building infrastructure for modern capital markets, the show breaks down IPOs and listings from the S-1 to the first trade, exploring how incentives are structured, where the system breaks down, and who it ultimately serves. Through high-signal, story-first conversations with founders, executives, investors, lawyers, and regulators, The Pop looks at the good, the bad, and the ugly of going public, and what the next era of capital formation could look like.
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