IPO Market Booming in 2025: 163 Deals, $31B Raised, Despite U.S. Shutdown
The IPO market is booming in 2025, on track for its best year since 2021 with 163 deals and $31 billion raised. However, a prolonged U.S. government shutdown could slow this momentum.
Several major IPOs are planned for this year. Ottobock, a German medical technology company, aims to raise around €4.2 billion in Frankfurt, focusing on new prosthetic technologies. Verisure, a European security company, targets a €13.9 billion valuation in Stockholm, set to be the largest European IPO since Porsche in 2022. Other notable listings include Aumovio SE, a spin-off from Continental AG with a market cap of about €3.5 billion, and CiTech preparing for a growth phase IPO.
Investors have been attracted to IPOs due to high stock prices, particularly in the technology sector. Klarna, a Swedish buy now, pay later company, raised $1.37 billion in its September IPO, becoming the largest of the year. Circle Internet Group, issuer of popular cryptocurrency USDC, raised about $1.1 billion in June, with shares currently trading around $152. Bullish, a cryptocurrency exchange, and CoreWeave, a cloud-computing company, also raised significant amounts in their respective August and March IPOs.
Despite the U.S. government shutdown causing delays in IPO filings due to reduced SEC staff, market conditions remain favorable for IPOs, according to Bill Smith, CEO of Renaissance Capital. The IPO market's strong performance this year, with several major listings planned, indicates continued investor confidence in the stock market.
