Europe’s initial public offering (IPO) market has shown a notable revival recently, showing renewed confidence in the region’s equity capital markets despite ongoing strong investor interest in private equity.
A diverse range of companies from fintech, defence, software, and energy sectors have either launched IPOs or are preparing to go public across European exchanges. This marks a turnaround following a period where Europe lagged significantly behind the U.S. and Asia in raising capital via public listings.
Recent high-profile debuts include Aumovio, an automotive parts supplier spun from Continental, which began trading on the Frankfurt Stock Exchange, and Swiss Marketplace Group which listed on the Swiss Stock Exchange.
Phil Drake, head of UK equity capital markets at Bank of America, described the surge in September IPO activity as “the quarter’s standout story,” with issuers and private equity investors seeing public markets as a viable exit path again.
Marketplace Group priced its shares at 46 Swiss francs each, reaching a $5.7 billion valuation, and closed its first week with shares at 49 francs. Aumovio’s shares started at 35 euros with a market cap above €3.7 billion, closing the week above 39 euros.
Nasdaq Stockholm expects two significant IPOs: Verisure, a Swiss security company that aims to raise funds for expansion and debt reduction with a €3.1 billion flotation, and Swedish digital bank NOBA targeting a $3.7 billion listing. Both companies’ CEOs highlighted the benefits of going public, including improved access to capital and increased market visibility.
Europe’s IPO resurgence contrasts with its recent dormant phase, during which it raised $5.5 billion from 57 IPOs in the first eight months of 2025, well below North America’s $17.7 billion from 153 deals.
Henri Marcoux, deputy CEO of Tikehau Capital, noted rising investor demand for private assets, leading some firms like German pharma Stada and bank OLB to cancel IPO plans in favour of private sales.
However, Drake sees improving investor sentiment towards public offerings, helped by lower volatility and a weaker U.S. dollar boosting euro-based equity returns. The current environment favours companies with strong scale and growth prospects.