Global IPO activity is surging across regions in 2025. In the U.S./Canada, Medline eyes a $5B blockbuster, Neptune Insurance targets $2.76B, and Brookfield-backed Rockpoint advances in Toronto, with IPOX® VP Kat Liu offering insights. Europe sees Kingspan and Deutsche Börse prepping listings, while Zijin Gold leads Asia-Pacific with a $3.2B Hong Kong float. MENA/Africa highlights Kenya Pipeline’s planned $1.15B IPO and Dubai’s ALEC, amid renewed momentum tracked by IPOX® benchmarks.

Bloomberg reports a strong revival in the U.S. IPO market, with newly listed companies up 41% in 2025, far outpacing the S&P 500. Large deals have been particularly lucrative, driving investor interest back to IPO-linked products. The First Trust US Equity Opportunities ETF (FPX), which tracks the IPOX® 100 U.S. Index, has surged 37% year-to-date. Bloomberg notes fresh inflows and rising optimism for innovation-driven companies entering public markets.

Bloomberg highlights the potential revival of Canada’s IPO market with Brookfield-backed Rockpoint Gas Storage’s planned Toronto listing. IPOX® VP Kat Liu, noted that Rockpoint’s performance could pave the way for additional carve-outs: “Based on how well they do with Rockpoint, there are a lot more portfolio companies that can easily go.” Investors are watching closely as confidence builds for renewed Canadian deal activity.

Neptune Insurance is targeting a $2.76 billion valuation in its upcoming U.S. IPO, Reuters reports. IPOX® Vice President Kat Liu noted the company’s strong growth story and highlighted climate change as a key driver of future demand: “If Neptune can capture share beyond NFIP and retain policies effectively, the growth opportunity could bolster IPO prospects.” The insurer will list on the NYSE under ticker “NP.”

In the U.S., Netskope, StubHub, Pattern Group, and SoftBank’s PayPay highlight renewed activity, with IPOX® CEO Josef Schuster, VP Kat Liu, and Associate Lukas Muehlbauer providing insights on selectivity and market resilience. Europe is seeing momentum from Verisure, SMG, Ottobock, and SumUp, while Asia-Pacific is led by multi-billion offerings from Zijin Gold, Chery, and MMC Port. MENA activity includes real estate listings from Dubai Investments and ALEC Holdings.

Pattern Group’s $2.4 billion Nasdaq debut drew attention as shares slipped 3.6% on opening day, Reuters reported. Commenting on the IPO, IPOX® Associate Muehlbauer noted that investors remain selective, rewarding strong fundamentals while others face tougher receptions. He added that Pattern’s reliance on Amazon poses risks amid shifting platform rules, with broader trade policy changes creating added challenges for cross-border sellers.

SMG Swiss Marketplace Group surged 8.7% above its offering price in its Zurich debut, signaling renewed strength in Europe’s IPO market. IPOX® Associate Lukas Muehlbauer noted the aftermarket lift was “to be expected given there’s a scarcity of large deals in Europe,” adding that strong performance boosts investor confidence.

IPO activity is surging again, with more than 150 companies going public this year and strong first-day gains fueling renewed investor interest. Yet volatility and high valuations remain challenges. In Barron’s, IPOX® Founder and CEO Josef Schuster highlighted our disciplined, long-term approach to IPO investing.

Bloomberg’s “IPOs Resurrect” notes a vigorous reopening of the U.S. new-issue window and highlights the IPOX® 100 U.S. Index’s leadership. The IPOX-100 of recently floated shares has “massively outperformed” since April’s post-“Liberation Day” rally, signaling revived risk appetite and encouraging more listings. With AI, crypto and fintech names accelerating, IPO breadth and pricing are improving, even as valuations normalize versus peak private rounds.

Cybersecurity firm Netskope surged 21% in its Nasdaq debut, reaching an $8.8 billion valuation, Reuters reported. The IPO raised more than $900 million, reflecting strong investor demand for cybersecurity solutions amid rising AI-driven threats. IPOX® Vice President Kat Liu noted the significance of the listing: “Netskope’s debut will be closely watched because cybersecurity remains one of the few technology sectors with clear structural demand, yet recent IPO performances have been mixed.”

Netskope Inc.’s IPO is seeing strong demand as investors bet on rising cybersecurity spending fueled by AI-driven threats, reports Bloomberg. Despite ongoing losses, the firm’s rapid revenue growth and AI-powered platform have drawn attention. Commenting on the deal, IPOX® Founder Josef Schuster noted: “It will be received OK. It’s a deal that really underscores how much more mature the IPO market has become recently.”

StubHub’s NYSE debut saw early gains erased, with shares closing 6.4% below their IPO price at $22, valuing the company at $8.09 billion. The listing underscores renewed IPO activity but cautious investor sentiment toward ticketing platforms. Commenting on the debut, IPOX® Vice President Kat Liu noted: “With revenue growth still slow and the industry under scrutiny for fees and fairness, investor appetite looks more measured than exuberant.”

The U.S. IPO market is showing its strongest momentum in four years, with funds raised from January to September 2025 up 35% year-on-year to $43.3 billion. High-profile listings, including Gemini Space Station and Klarna, highlight investor appetite. IPOX® founder Josef Schuster noted, “A golden age of IPOs has arrived in the US.”

Global IPO activity is reaccelerating across regions. In the U.S., Klarna raised $1.37 billion, StubHub targets up to $851 million, and Via priced a $493 million debut, with IPOX VP Kat Liu highlighting brand power and public-sector risks. Europe features SMG Swiss Marketplace Group’s CHF 43–46 range and NOBA’s planned Stockholm float. Asia-Pacific sees Zijin Gold’s about $3 billion Hong Kong deal, Hesai’s raise, and Big Caring and Butong. MENA adds Bateel’s planned Riyadh listing.

Transit tech company Via Transportation (NYSE: VIA) went public on the New York Stock Exchange at a $3.5 billion valuation, though shares fell 4.4% on debut. The IPO raised $493 million, with shares priced above the marketed range. Commenting to Reuters, IPOX® Vice President Kat Liu highlighted risks in Via’s model, citing “lower margins, slower scaling across jurisdictions, and dependence on local relationships and regulatory compliance.”

Klarna’s $1.37 billion U.S. IPO marks one of 2025’s most closely watched fintech listings, valuing the company at $15.1 billion. In Reuters coverage, IPOX® VP Kat Liu highlighted Klarna’s strong brand presence, noting that recognition is “as critical as the business model” in the competitive fintech space. The debut underscores renewed investor appetite for high-growth IPOs despite ongoing profitability challenges across the sector.