Despite early optimism for a surge in IPOs in 2025, the pace of public listings remains slower than anticipated with the predicted wave of IPOs having yet to materialize, particularly in the United States. Instead, company boards and leaders are left to navigate a broader landscape of strategic transactions, including mergers and acquisitions, private equity investments, and debt and capital raises. Market conditions, however, can shift rapidly, creating both uncertainty and opportunity. Developments, including the announcement of new tariffs and shifts in economic policy, have added heightened uncertainty to the IPO and capital market. IPO timelines have always been unpredictable, but the recent rapidly shifting economic environment underscores the fragility of IPO timeliness. While the IPO market remains unpredictable, global dealmaking across M&A and private capital investment is showing strong momentum, with companies actively planning for strategic growth. By maintaining strong...
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