Nasdaq Welcomes 142 IPOs in the First Half of 2025
Nasdaq (Nasdaq: NDAQ) reported strong listing activity in the first half of 2025, welcoming 142 Initial Public Offerings (IPOs) that raised a total of $19.2 billion. The exchange demonstrated market dominance with an 86% win rate of eligible U.S. listings, comprising 83 operating companies and 59 SPACs.
Notable achievements include attracting the year's largest tech IPO (CoreWeave), securing 11 corporate listing transfers worth $271 billion in market value, and maintaining leadership in consumer (100% win-rate) and healthcare (89% win-rate) sectors. The exchange also dominated the SPAC market, capturing 94% of eligible SPAC IPOs which raised $10.6 billion.
Significant transfers included Shopify with a $123 billion market cap and Kimberly-Clark. The exchange crossed a milestone of $3 trillion in total market value transferred since 2005, marking 46 consecutive quarters of market leadership.
Nasdaq (Nasdaq: NDAQ) ha registrato una forte attività di quotazione nella prima metà del 2025, accogliendo 142 Offerte Pubbliche Iniziali (IPO) che hanno raccolto un totale di 19,2 miliardi di dollari. La borsa ha dimostrato il suo dominio di mercato con un tasso di successo dell'86% delle quotazioni statunitensi idonee, comprendendo 83 società operative e 59 SPAC.
Tra i risultati più rilevanti, si segnala l'attrazione della più grande IPO tecnologica dell'anno (CoreWeave), la realizzazione di 11 trasferimenti di quotazione aziendale per un valore di mercato di 271 miliardi di dollari e il mantenimento della leadership nei settori consumer (100% di successo) e sanitario (89% di successo). La borsa ha inoltre dominato il mercato SPAC, catturando il 94% delle IPO SPAC idonee che hanno raccolto 10,6 miliardi di dollari.
I trasferimenti più significativi hanno incluso Shopify con una capitalizzazione di mercato di 123 miliardi di dollari e Kimberly-Clark. La borsa ha superato la soglia di 3 trilioni di dollari di valore di mercato totale trasferito dal 2005, segnando 46 trimestri consecutivi di leadership di mercato.
Nasdaq (Nasdaq: NDAQ) reportó una fuerte actividad de listados en la primera mitad de 2025, acogiendo 142 Ofertas Públicas Iniciales (OPIs) que recaudaron un total de 19,2 mil millones de dólares. La bolsa demostró su dominio en el mercado con una tasa de éxito del 86% de los listados elegibles en EE. UU., incluyendo 83 empresas operativas y 59 SPACs.
Los logros notables incluyen atraer la mayor OPIs tecnológica del año (CoreWeave), asegurar 11 transferencias corporativas de listados por un valor de mercado de 271 mil millones de dólares y mantener el liderazgo en los sectores de consumo (100% de éxito) y salud (89% de éxito). La bolsa también dominó el mercado SPAC, capturando el 94% de las OPIs SPAC elegibles que recaudaron 10,6 mil millones de dólares.
Las transferencias significativas incluyeron a Shopify con una capitalización de mercado de 123 mil millones de dólares y Kimberly-Clark. La bolsa superó un hito de 3 billones de dólares en valor total de mercado transferido desde 2005, marcando 46 trimestres consecutivos de liderazgo en el mercado.
나스닥 (Nasdaq: NDAQ)은 2025년 상반기에 강력한 상장 활동을 보고하며, 총 192억 달러를 모금한 142건의 기업공개(IPO)를 환영했습니다. 이 증권거래소는 미국 내 적격 상장 기업 중 86%의 점유율을 기록하며 시장 지배력을 입증했으며, 여기에는 83개의 운영 회사와 59개의 SPAC이 포함됩니다.
주목할 만한 성과로는 올해 최대 기술 IPO(CoreWeave) 유치, 시가총액 2710억 달러에 달하는 11건의 기업 상장 이전 확보, 소비재 부문(100% 성공률) 및 헬스케어 부문(89% 성공률)에서의 리더십 유지가 있습니다. 또한 SPAC 시장에서도 적격 SPAC IPO의 94%를 점유하며 106억 달러를 조달했습니다.
주요 이전 사례로는 시가총액 1230억 달러인 Shopify와 Kimberly-Clark가 포함되어 있습니다. 이 증권거래소는 2005년 이후 총 시장 가치 이전액이 3조 달러를 넘어섰으며, 46분기 연속 시장 리더십을 기록했습니다.
Nasdaq (Nasdaq : NDAQ) a enregistré une forte activité de cotation au premier semestre 2025, accueillant 142 introductions en bourse (IPO) qui ont levé un total de 19,2 milliards de dollars. La bourse a démontré sa domination sur le marché avec un taux de réussite de 86% des cotations américaines éligibles, comprenant 83 entreprises opérationnelles et 59 SPAC.
Parmi les réalisations notables, on compte l'attraction de la plus grande IPO technologique de l'année (CoreWeave), la sécurisation de 11 transferts de cotation d'entreprises d'une valeur de marché de 271 milliards de dollars, et le maintien du leadership dans les secteurs de la consommation (100% de réussite) et de la santé (89% de réussite). La bourse a également dominé le marché des SPAC, capturant 94% des IPO SPAC éligibles qui ont levé 10,6 milliards de dollars.
Les transferts importants incluent Shopify avec une capitalisation boursière de 123 milliards de dollars et Kimberly-Clark. La bourse a franchi un cap de 3 000 milliards de dollars de valeur totale de marché transférée depuis 2005, marquant 46 trimestres consécutifs de leadership sur le marché.
Nasdaq (Nasdaq: NDAQ) meldete eine starke Notierungsaktivität in der ersten Hälfte des Jahres 2025 und begrüßte 142 Börsengänge (IPOs), die insgesamt 19,2 Milliarden US-Dollar einbrachten. Die Börse demonstrierte Marktdominanz mit einer 86% Erfolgsquote bei berechtigten US-Notierungen, darunter 83 operative Unternehmen und 59 SPACs.
Zu den bemerkenswerten Erfolgen zählen die Anziehung des größten Tech-IPOs des Jahres (CoreWeave), die Sicherung von 11 Unternehmensnotierungsübertragungen im Wert von 271 Milliarden US-Dollar und die Aufrechterhaltung der Führung in den Sektoren Konsumgüter (100% Erfolgsquote) und Gesundheitswesen (89% Erfolgsquote). Die Börse dominierte auch den SPAC-Markt und erzielte 94% der berechtigten SPAC-IPOs, die 10,6 Milliarden US-Dollar einbrachten.
Bedeutende Übertragungen umfassten Shopify mit einer Marktkapitalisierung von 123 Milliarden US-Dollar und Kimberly-Clark. Die Börse überschritt eine Marke von 3 Billionen US-Dollar an insgesamt übertragenem Marktwert seit 2005 und verzeichnete 46 aufeinanderfolgende Quartale der Marktführerschaft.
- None.
- Noted increasing regulatory burden for companies going public or remaining public
- Highlighted need for regulatory reform due to cumbersome public listing process
Insights
Nasdaq's strong H1 2025 performance with 142 IPOs raising $19.2B signals market recovery and strengthens their competitive position against NYSE.
Nasdaq's first half 2025 results represent a significant rebound in the IPO market, with the highest listing volume and capital raise since 2021. The exchange secured 142 new listings raising $19.2 billion, capturing an 86% win-rate of eligible U.S. listings – extending their market leadership to an impressive 46 consecutive quarters.
The company's performance across key segments is particularly noteworthy. They maintained 100% win-rate in consumer IPOs and 89% in healthcare, demonstrating continued sector dominance. Their SPAC business remains robust, capturing 94% of eligible SPAC IPOs which raised $10.6 billion.
Perhaps most impressive is Nasdaq's continued success in attracting companies to switch listings. The 11 companies that transferred this period represented $271 billion in market value, including Shopify ($123 billion) and Kimberly-Clark. This pushed Nasdaq past the $3 trillion threshold in total market value transferred since 2005 – a substantial validation of their value proposition against competitors.
The revival in IPO activity aligns with the positive signal from Nasdaq's own IPO Pulse Index, which increased for the first time this year. This combination of higher returns, valuations, and improved listing conditions suggests the IPO market may be entering a healthier cycle after several challenging years. For Nasdaq shareholders, this resurgence directly benefits the company's transaction, listing, and data services revenue streams.
Highest volume of listings and capital raise in the first half of the year since 2021
Maintained leadership in switches - crossed
Driving smart policy reforms to improve regulatory processes for public companies
NEW YORK, July 01, 2025 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq: NDAQ) announced today that in the first half of 2025, it welcomed 142 listings (IPOs), raising a total of
“The first half of the year has seen an impressive volume and roster of companies coming to market, with Nasdaq cementing its position as home to innovative brands across sectors including financial technology, digital assets, and biotech. Nasdaq’s client-first value proposition continues to attract companies via new listings and exchange transfers, a testament to our ability to support at all stages of a company’s lifecycle.” said Jeff Thomas, Executive Vice President, Chief Revenue Officer and Global Head of Listings at Nasdaq. “For the first time this year, the Nasdaq IPO Pulse Index ticked upwards, following higher returns, valuations, and encouraging conditions for listing. We’re looking forward to promising activity in the months ahead.”
A video accompanying this announcement is available at: https://vimeo.com/nasdaq/2025listinghighlights
2025 FIRST HALF NASDAQ U.S. LISTINGS HIGHLIGHTS
- U.S. listings market leadership: Year-to-date, Nasdaq welcomed 142 IPOs, raising
$19.2 billion . Marquee listings include the largest technology IPO of the year, CoreWeave, fintech powerhouse, Chime, and digital asset leader, Galaxy Digital. This is the highest volume of listings and capital raise on Nasdaq in the first half of the year since 2021. - Exchange of choice for switches: In the first half of 2025, 11 companies transferred their corporate listing to Nasdaq, totaling
$271 billion and including Shopify, the largest exchange transfer so far this year, representing$123 billion in market cap, as well as leading consumer-goods brand, Kimberly-Clark. - Leading U.S. exchange for consumer and healthcare IPOs: Nasdaq maintained its strong track records for consumer (
100% win-rate) and healthcare (89% win-rate), with sector-defining listings including Smithfield Foods and Metsera, a GLP-1 developer. - Helping companies join the public markets via SPACs: A total of 20 SPAC business combinations also listed in the first 6 months of 2025, representing an
95% -win rate in the U.S. Further, Nasdaq continued its influence in the SPAC market, welcoming94% of all eligible SPAC IPOs, raising$10.6 billion and including the largest SPAC listing of the year with Churchill Capital Corp X. - Championing smart regulatory reform to encourage capital formation: To enhance the current operating environment for public companies and drive capital formation, Nasdaq recently published a new white paper calling for regulatory reform to strengthen the capital markets. Public markets help many Americans secure their economic future through retirement accounts and investments, yet it has become increasingly cumbersome for companies to go public or remain public. There is a critical need to build and protect the markets, modernize the regulatory environment in which it operates, and restore their essential role in wealth creation for all Americans.
- Major Nasdaq listing anniversaries: Nasdaq celebrated the listing anniversaries of Huntington Bancshares Inc (40 years), Cisco Systems, Inc. (35 years), Autodesk Inc. (30 years), DexCom, Inc. (20 years), PayPal Holdings, Inc. (10 years), as well as the first-year listing anniversary of Waystar.
About Nasdaq:
Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com
| Nasdaq Media Contact | |
| Sophia Weiss (646) 483-6960 Sophia.weiss@nasdaq.com | |
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Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Forward-looking statements can be identified by words such “will,” “plans,” “expects,” “may,” “believe” and other words and terms of similar meaning. Such forward-looking statements include, but are not limited to, statements about the Company’s growth strategy and market expectations, products and services, ability to enhance or innovate new ways for companies to join the public markets, and other statements that are not historical facts. Forward-looking statements involve a number of risks, uncertainties, or other factors beyond Nasdaq’s control. These risks and uncertainties are detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on Nasdaq’s investor relations website at ir.nasdaq.com and the SEC’s website at www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
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