Mubasher: The global initial public offering (IPO) market showed resilience in the first seven months (7M) of 2025, with proceeds rising to $56.80 billion, according to GlobalData.
The proceeds increased by 9.50% year-on-year (YoY) as of 31 July 2025 despite persistent market volatility and policy uncertainty.
Strong investor appetite, especially in Asia-Pacific, reflects a strategic shift toward high-value listings, underpinned by favorable macroeconomic fundamentals and a recalibration of corporate capital-raising strategies across sectors and geographies.
While the number of IPOs globally decreased in 7M-25, the total deal value experienced a notable increase; this trend suggests a shift towards larger, more valuable IPOs, despite the decline in the overall number of listings.
Company Profiles Analyst at GlobalData, Murthy Grandhi, said: “A fundamental shift in global capital flows and investor sentiment is driving a realignment of the IPO market across geographies and industries.”
Grandhi noted: “In this dynamic environment, where markets are recalibrating continuously, maintaining a high degree of IPO readiness is a critical strategic imperative.”
Meanwhile, the Asia-Pacific region recorded the largest number of transactions, totaling 385, amounting to $28.40 billion in value, while North America had 124 deals valued at $21.70 billion.
The analyst added: “Companies must be positioned to manage near-term market fluctuations while aligning their long-term objectives with the prevailing macro trends. Consequently, the market dynamics of early 2025 have prompted a widespread reassessment of corporate exit strategies, leading firms to evaluate whether to extend their private status or to proceed with public offerings of a reduced scale.”
At country level, India topped with 150 transactions valued at $6.30 billion, primarily due to a higher number of SME IPOs, while the US came in second with 115 deals of $21.30 billion and China ranked third with 82 transactions worth $14.20 billion.
The sectors leading the way in IPO activity were technology and communications, registering 97 transactions with a total value of $9.50 billion.
Following closely were financial services with 88 deals worth $12.90 billion, pharmaceuticals and healthcare with 55 transactions totaling $6.20 billion, and industrial goods and machinery with 53 deals valued at $3.10 billion.
Grandhi concluded: “The global IPO market demonstrated considerable resilience through the first half (H1) of 2025, with a cautiously optimistic outlook for the second half despite persistent challenges. A broader market rebound is contingent upon several key factors, including the establishment of more cooperative international trade frameworks, accommodative monetary policies, effective inflation control, and a de-escalation of geopolitical tensions.”
The analyst added: “In this complex environment, companies best positioned for a successful public offering will be those aligned with national strategic priorities and innovation. Success will further depend on their ability to articulate a credible equity story supported by realistic valuations and a flexible approach to timing the transaction.”
