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IPO News
Market activity surges across the globe with several blockbuster listings on the horizon. In a major win for the London Stock Exchange, Norwegian software giant Visma is ditching Amsterdam to line up a €19 billion IPO in London. Meanwhile, the Asian markets are buzzing as fashion behemoth Shein prepares a landmark confidential filing in Hong Kong, a move expected to revitalize the city's capital markets. The U.S. also saw significant momentum, with travel tech firm Navan, previously valued at $9.2 billion, confidentially filing for its public debut.
High-value listings are planned in Europe, including BioMar's potential $2B IPO. Hong Kong remains a key venue for Asian firms like FWD Group and MiniMax. While the U.S. market sees lower volumes and volatility, the MENA region experienced a shaky debut for Flynas. Highlighting future activity, mining giant Vale's metals unit is preparing for a potential landmark $25B IPO, signaling significant deals ahead.
The IPO market is showing strong signs of a rebound in mid-2025, fueled by improving economic stability and renewed investor confidence. After a period of caution, a solid pipeline of companies, particularly in the technology and life sciences sectors, is now emerging. High-profile debuts have performed well, encouraging other unicorns to accelerate their listing plans. While market volatility remains a consideration, the overall sentiment is optimistic for a more active and receptive second half.
IPOX® in the News
In a Reuters article covering the strong market debut of Jefferson Capital, IPOX® Research Associate Lukas Muehlbauer provided commentary on the recovering U.S. IPO market. He noted the rebound is likely to be selective, "led by high-quality and long-anticipated issuers." Muehlbauer explained that an initial trading "pop" is part of the market's "healthy process of price discovery" to establish a sustainable price. Read more in the full article on the IPOX website.
In a recent Bloomberg article, IPOX® Research Associate Lukas Muehlbauer commented on the challenging European IPO market. Highlighting the recent withdrawal of several listings, Muehlbauer noted that investor appetite is particularly low for private equity exits where proceeds do not benefit the company. He stated, “Deals that are essentially existing owners cashing out are proving to be a tough sell.” Read more about his analysis of the current market sentiment on our blog.
The IPOX® 100 U.S. Index (ETF: FPX) is opening at a new all-time high, extending its year-to-date gain to +21%. This surge is driven by positive market sentiment, end-of-quarter positioning, and reassuring inflation comments from the FED. Other key indexes, including the IPOX® International (FPXI) and IPOX® 100 Europe (FPXE), also closed at multi-year highs, reflecting broad strength across the IPOX® portfolio and its position as the gold standard for IPOs.
IPOX® Research Associate Lukas Muehlbauer commented on the news of Wealthfront Corporation's confidential U.S. IPO filing in a Reuters article on June 23, 2025. He noted that the move is consistent with a recent positive trend in the market, stating, "Wealthfront's IPO plans fit in with the recent uptick of successful U.S. IPOs, particularly from sectors insulated from trade and supply chain volatility."
In a Reuters article on Slide Insurance's $2.6 billion IPO, IPOX® Vice President Kat Liu provided expert insights. Liu commented on the firm's niche strategy in high-risk coastal markets and the appeal of insurer IPOs due to predictable cash flows. She also offered perspective on potential governance concerns at the newly public company, highlighting IPOX's expertise in analyzing new listings and market trends in the global financial sector.