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.

Figure Technology Solutions filed for a U.S. IPO after reporting a 22% revenue surge in the first half of 2025. Reuters highlighted the growing wave of crypto-related listings, including Gemini. IPOX CEO Josef Schuster commented, “Crypto is becoming one of the big pillars of the IPO market, with more deals expected not only via IPO- but also through deSPAC transactions.”

Reuters reported that Via Transportation, a New York-based transit-technology company powering public transit systems worldwide, has filed for a U.S. IPO after posting a 27% revenue gain in the first half of 2025. IPOX® CEO Josef Schuster said IPO activity will be “seasonally subdued” in the coming weeks before picking up again, and noted Via’s listing will test sentiment for other travel- and transit-tech offerings.