Initial public offerings: A 20-year review
Explore the 2026 IPO Trends Report for a clear, data-driven look at two decades of market performance, fee benchmarks and the increasing role of global issuers. Get the essential insights you need to make informed decisions in a rapidly shifting environment.
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Market rebound
In 2025, 370 IPOs raised $71.8 billion—an 84% increase in capital raised from the previous year.
NASDAQ’s lead grows
NASDAQ listed 299 companies for an 81% market share, further establishing its dominance in growth sectors.
SPACs make a comeback
SPACs accounted for 39% of IPO deal volume in 2025, well above historical averages.
Global issuers dominate
Foreign Private Issuers comprised 54% of deals, reflecting the U.S. market’s global appeal.
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Get the essential insights you need to make informed decisions in a rapidly shifting environment.