Global IPOs in the first half of 2025 reflected a market in flux—fragmented momentum, sharp regional divergences, and emerging sectoral frontrunners. While deal volumes fell year-on-year, proceeds surged 17%, signaling selective yet strong capital-raising appetite. Asia-Pacific, led by Greater China, outpaced peers with a surge in listings and proceeds, while the Americas saw a late-half rebound despite tariff headwinds. EMEIA exchanges, however, lagged following a strong 2024, underscoring the uneven pace of recovery. The landscape ahead suggests investors are rewarding quality over quantity, setting the stage for new sectoral leaders and strategic reinvention in IPO markets.
• Hardik Malik
Lead Analyst – Corporate and Investment Banking LoB
• Narender Verma
Lead Analyst – Corporate and Investment Banking LoB
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Also read the 1H25 Global IPO Market insights including major IPO themes, current scenario, regional IPO insights, emerging regions and outlook for 2025 IPO market.
