Public Markets

Bullish, a cryptocurrency exchange backed by billionaire investor Peter Thiel, has confidentially filed for an initial public offering in the United States, according to the Financial Times. The filing was reportedly submitted to the Securities and Exchange Commission in recent weeks. A confidential IPO process enables a company to begin its regulatory review without disclosing detailed financial information until it moves closer to listing...

Wise Plc has announced plans to shift its primary listing from London to the United States, marking another significant exit from the UK capital market. While the company will retain a secondary listing on the London Stock Exchange, it said the move to the U.S. will provide greater access to capital, enhance liquidity, and offer more flexibility to investors. Wise’s Co-Founder and CEO, Kristo Käärmann, emphasized that the U.S. represents the company’s largest market opportunity...

Cybersecurity firm Netskope is preparing for a U.S. initial public offering that could raise over $500 million, with Morgan Stanley leading the effort. The IPO, potentially launching in the third quarter, may value the Santa Clara-based company at more than $5 billion. Founded in 2012, Netskope offers cloud-based security services to protect applications, websites, and data, serving clients such as Ross Stores and Yamaha...

Hinge Health announced the launch of its initial public offering of Class A common stock. The company filed a registration statement with the U.S. Securities and Exchange Commission to offer a total of 13,666,000 shares, with 8,522,528 offered by Hinge Health and 5,143,472 by certain selling stockholders. The selling stockholders may also grant underwriters a 30-day option to purchase up to an additional 2,049,900 shares...

Kenvue has appointed Amit Banati as its new Chief Financial Officer, following a comprehensive search process. Banati will oversee the company’s Finance and Strategy functions, taking over from Paul Ruh, who will remain briefly to support a smooth transition. With more than 30 years of experience in the consumer products sector, Banati brings a strong record of delivering profitable growth and managing large-scale business transformations...

eToro, a social trading and investment platform, has launched the roadshow for its initial public offering, offering 10 million Class A common shares. The company is issuing 5 million shares, while the remaining 5 million are being offered by existing shareholders. Additionally, eToro has granted underwriters a 30-day option to purchase up to 1.5 million extra shares to cover over-allotments, if necessary...

Venture firm Industry Ventures reports that the secondary market, an informal venue for buying and selling shares in private companies, is set to handle $122 billion in assets in 2025, up from $25 billion in 2012. Once viewed as a last-resort option for desperate sellers, this market has become a central feature of venture capital investing. Bloomberg notes that the secondary market was once dismissed as costly and opaque...

President Trump’s announcement of new U.S. tariffs triggered market volatility, prompting several companies to pause their IPO plans. These decisions have affected firms with a combined valuation exceeding $120 billion, causing significant disruption in the IPO pipeline. The IPO process is inherently complex, involving tasks such as public filings, roadshows, and marketing events, all of which become increasingly difficult to manage in an unstable market...

David Collins has been appointed Executive Vice President and Chief Financial Officer of Madison Square Garden Entertainment. With over 30 years of financial experience, including roles in live entertainment and sports, Collins brings a wealth of expertise to the company. In his new role, Collins will work closely with the Executive Management Team to guide the company's long-term strategy and oversee key financial functions such as planning, analysis, treasury, investor relations, tax, and procurement...

The global IPO market in early 2025 is navigating uncertainty driven by geopolitical tensions and the rise of disruptive AI technologies. A total of 291 IPOs raised $29.3 billion globally, maintaining the volume seen in Q1 2024 while increasing deal value by 20%. The U.S. drove IPO activity, Asia-Pacific markets showed signs of recovery, and EMEIA maintained stability despite ongoing challenges...