Public Markets

The IPO market has shown strong momentum in 2025, according to Lynn Martin, President of the New York Stock Exchange Group. Speaking at the Fortune Most Powerful Women Summit in Washington, D.C., Martin said public listings across sectors have increased, with notable IPOs from firms such as Circle, Figma, and Klarna...

Electric aircraft maker Beta Technologies is preparing for a U.S. initial public offering that could value the company at about $7.22 billion, according to its recent regulatory filing. The firm plans to offer 25 million shares priced between $27 and $33 each, aiming to raise as much as $825 million. Cornerstone investors, such as Alliance Bernstein, BlackRock, Ellipse, GE Aerospace, and Federated, are expected to invest up to $300 million in Class A shares...

BillionToOne, a molecular diagnostics company specializing in prenatal and tumor testing, has submitted an IPO application to the U.S. Securities and Exchange Commission (SEC), planning to raise $100 million. Founded in 2016 and headquartered in Menlo Park, California, the company develops diagnostic products using its single-molecule next-generation sequencing platform...

The U.S. Securities and Exchange Commission has approved the Texas Stock Exchange (TXSE) as a national securities exchange, marking the first fully integrated U.S. exchange in decades and the only one headquartered in Texas. Founded by James H. Lee, TXSE aims to offer trading services, corporate listings, and exchange-traded products (ETPs) starting in 2026...

Technology firms are increasingly avoiding public listings in 2025, with companies like SpaceX, Stripe, and OpenAI raising significant capital privately instead of entering the stock market. IPO activity has dropped sharply, with just 15 listings on the London Stock Exchange this year compared to 126 in 2021...

Cybersecurity firm Netskope has completed its Nasdaq debut under the ticker NTSK, raising about $992 million after underwriters exercised their over-allotment option. Shares were priced at $19, the top of the expected range, giving the company an implied fully diluted market capitalization of roughly $9.6 billion...

Blockchain lender Figure Technology raised $787.5 million in its U.S. initial public offering, marking a significant step for digital asset-based financial companies entering mainstream markets. The company, which now trades on Nasdaq under the ticker “FIGR,” sold 31.5 million shares at $25 each, exceeding its revised range of $20 to $22...

Klarna Group has closed its initial public offering at $40 per share, selling 34,311,274 ordinary shares. Of that total, 5,000,000 shares were issued by the company and 29,311,274 were sold by existing shareholders. Klarna’s shares began trading on the New York Stock Exchange on September 10, 2025, under the ticker KLAR. Goldman Sachs, J.P. Morgan, and Morgan Stanley acted as joint book-running managers, with additional support from BofA Securities, Citigroup, Deutsche Bank, Societe Generale, UBS, and a group of co-managers...

London’s equity capital markets, long hampered by a sharp decline in listings, are showing early signs of renewed activity, prompting advisers, law firms, and consultants to prepare for an expected rebound. New listings on London’s public markets fell from a peak of 125 in 2021 to just 17 in 2024, according to London Stock Exchange Group data, reflecting geopolitical uncertainty and falling valuations. So far in 2025, only 10 companies have been listed on AIM and the main market...

Recent high-profile U.S. listings have recorded sharp first-day gains, prompting renewed debate over whether Wall Street Banks are setting IPO prices too conservatively. Companies such as Figma, Circle, and Bullish saw their shares surge 250%, 168%, and 84% respectively, on debut, far exceeding the 15% to 20% range analysts consider healthy for balancing investor reward with issuer value...