UBS Analyzes 2025 IPO Surge with Tech Sector Dominance
IPO activity shows resilience in 2025 with 109 new listings raising $17.1 billion, though average deal size contracts. Technology firms command 35% of new offerings and 50% of capital raised, while financial services follow as distant second. UBS analysts highlight two standout tech IPOs, endorsing one as superior—though names remain undisclosed in the excerpt.
The narrowing proceeds despite volume growth suggests investors are becoming more selective. This aligns with broader market trends where capital concentrates in category leaders. 'When liquidity tightens, money flows to either bulletproof balance sheets or disruptive potential,' observes a UBS research note seen by Bloomberg.