This would be the largest volume since 2021, when the market raised $115 billion.

The recovery is significant after the collapse of 2022-2024, where the IPO market practically dried up. In 2025, only $38 billion was raised.

The projection reflects expectations of improved risk appetite and a favorable window for companies that postponed IPOs in recent years.

The backlog of mature companies waiting for the right timing is substantial.

Now that's a booming market.