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IPO News
Global IPO momentum is building into September. In the U.S., Klarna and Netskope target ~$1bn raises, alongside Pattern, Andersen, Avant, Lendbuzz and a $250m SPAC. Canada’s GO Residential REIT shows mixed sentiment. Europe eyes a Frankfurt–Zurich revival, with Stada watching conditions. Asia-Pacific features Chery’s $1.5–$2bn HK float, a >$1bn Singapore REIT, Japan’s Tekscend, Hesai, and Korean deals. MENA sees Jamjoom’s Nomu filing and Abu Dhabi–registered Uzum plotting a 2027 IPO.
U.S. IPO momentum is surging with WaterBridge, Pattern, Figure, and Gemini filings, while Fannie Mae and Freddie Mac prepare a potential $30B share sale. Europe sees TenneT’s €12B IPO and Zurich’s SMG listing plans. In Asia-Pacific, Aux Electric eyes a $600M Hong Kong deal, alongside Hesai, Edge Medical, and Miniso’s Top Toy. Saudi Arabia’s Dar Al Majed raised $336M, underscoring strong institutional demand despite weaker retail appetite.
Global IPO momentum remains strong across regions, with the U.S. leading on billion-dollar tech and crypto deals like PayPay, Circle, Bullish, and StubHub. Europe’s pipeline includes mega-floats from Visma and Verisure, while Asia-Pacific sees significant Hong Kong and Tokyo offerings, from Aux Electric to Orion Breweries. MENA markets raised $2.5B in Q2, led by Saudi Arabia. Analysts note investor appetite is robust, though pricing discipline and post-listing performance remain key to sustaining the boom.
IPOX® in the News
U.S. IPOs gained momentum as firms including Klarna, Gemini, and Figure launched offerings after Labor Day. IPOX® CEO Josef Schuster told Reuters: “The strong sentiment for U.S. IPOs overall will continue for the remainder of 2025 and into 2026, in particular for growth-focused deals in technology and linked to the U.S. consumer.”
Blockchain lender Figure Technologies is seeking a valuation of up to $4.13 billion in its Nasdaq IPO, aiming to raise $526 million. Commenting on the broader crypto IPO pipeline, IPOX® CEO Josef Schuster said: “With the current administration strongly supportive of the space, the pipeline is likely to remain active.”
Bloomberg highlights Canada’s only IPO of 2025, GO Residential REIT, which has fallen 15% since its debut despite being oversubscribed. IPOX® Founder and CEO Josef Schuster noted that while Canadian IPOs may lack the immediate “pop” often seen in the US, they can deliver stronger gains over the medium to long term, citing past examples like MDA Space and Definity Financial that rallied well after slow starts.
Reuters highlighted a surge in U.S. IPO activity as WaterBridge Infrastructure and Pattern Group filed to go public. IPOX® CEO Josef Schuster noted: “Lower U.S. rates and a proliferation of the rally to U.S. small- and mid-caps may add fuel to the fire towards year-end.” He added: “The golden age for U.S. IPO is here,” citing strong gains in the IPOX® 100 Index.
Strong U.S. IPO debuts are sparking debate over cautious pricing by Wall Street banks. In Reuters, IPOX® Associate Lukas Muehlbauer noted that conservative pricing is a strategy to “build positive momentum and long-term brand equity,” while ensuring easier access to follow-up capital.