IPO Resurgence Fueled by U.S. Macroeconomic Clarity, EY Reports

Initial public offerings have regained momentum in Q3 2025, marking the strongest quarterly performance since 2021. U.S.-listed IPOs led the charge with $48.2 billion raised globally, as short-term clarity on tariffs and interest rates restored investor confidence.

The rebound follows earlier stagnation caused by trade policy uncertainty. Central bank rate cuts and fiscal recalibration across major economies created favorable conditions for new listings. First-day IPO pops averaged 35% this year - the highest since the dot-com era.

While near-term conditions appear favorable, EY warns of lingering structural uncertainties. Inflation targets, central bank independence, and global policy coordination remain unresolved challenges driving investors toward resilient, innovative companies.