After years of drought, December 2025 saw at least 25 companies debut on public markets—a surge that signals the IPO window has swung wide open.
Source: Renaissance Capital
The December rush isn’t random. Companies that spent 2023-2024 waiting for better conditions are racing to market before potential volatility returns. The window opened—and everyone rushed through simultaneously.
IPO volume is a leading indicator of market confidence. Twenty-five December debuts represent collective conviction that conditions are right. The surge also reflects pent-up supply—unicorns that delayed IPOs need liquidity for employees, investors, and growth capital.
Quality vs. Quantity
Not all IPO windows are equal. Are these quality companies achieving fair valuations, or marginal companies exploiting temporary enthusiasm? History suggests late-cycle windows often favor issuers over investors. The asymmetric information problem intensifies when companies rush to market.
2026 Outlook
December’s surge sets the stage for 2026. If these IPOs perform well, expect continued robust issuance. If they struggle, the window may close as quickly as it opened. For private companies still waiting: windows don’t stay open forever.
Gennaro is the creator of FourWeekMBA, which reached about four million business people, comprising C-level executives, investors, analysts, product managers, and aspiring digital entrepreneurs in 2022 alone | He is also Director of Sales for a high-tech scaleup in the AI Industry | In 2012, Gennaro earned an International MBA with emphasis on Corporate Finance and Business Strategy.
