On January 24, 2025, the U.S. IPO market is anticipated to thrive, driven by a favorable political climate under Donald Trump, decreasing interest rates, and a revived risk-on attitude among investors. Major IPOs expected this year include Klarna, Chime, Cerebras, and Medline, reflecting a strong investor sentiment that could encourage more companies to enter the market.
The first significant listing for 2025, Venture Global LNG, aims to gauge investor interest in energy IPOs following Trump's commitment to support the sector.
Recent IPO performances serve as a barometer for market sentiment:
ARM Holdings: Raised $4.87 billion in September 2023, valuing the company at $54.5 billion, with shares up 200% since debut.
Instacart: Raised $660 million at a valuation of $9.9 billion in September 2023, with shares currently 8.2% higher post a 40% opening surge.
Viking Holdings: IPO raised $1.54 billion in April 2024, shares up 86% since opening 9% above the offer price.
StandardAero: Valued at $8 billion after raising $1.44 billion in October 2023, shares down 13.22% since debut.
Lineage: Raised $4.45 billion in July 2024, shares down 25.6% since a 5% opening gain.
Reddit: Raised $748 million in March 2024, shares up over 400% since opening 38% above the offer price.
Birkenstock: Raised $1.48 billion in October 2023, shares up 43% after debuting 11% below the IPO price.
Zeekr: Raised $441 million in May 2024, shares down 3% since a 24% opening gain.
Kenvue: Raised $3.8 billion in May 2023, shares down nearly 19% after opening 16% above the offer price.
Waystar: Raised $968 million in June 2024, shares up 80% since opening 2% below the IPO price.
The performance of these IPOs will likely influence upcoming listings and investor behavior in 2025.