The global IPO market is showing strong signs of recovery, with Q4 2024 seeing a substantial increase in activity. According to S&P Global Market Intelligence data, the quarter recorded 382 IPOs, the highest level in over a year, signaling a rebound after a slowdown in 2022 and 2023. The aggregate offering amount for these IPOs reached US$47.66 billion, representing a 15% increase in volume and a significant 97% surge in value compared to the previous quarter. This surge represents the highest number of transactions since Q3 2023 and the largest aggregate amount offered since Q1 2022.
In the United States, IPO activity also rose modestly in Q4, continuing a three-quarter growth trend. However, the total transaction value in the US retreated to US$8.65 billion from Q3’s peak of US$11.59 billion. Despite this quarterly dip, overall US listings activity accelerated annually, with 139 transactions raising US$34.79 billion in 2024, up from 101 transactions and US$16.26 billion in 2023. European IPO activity also experienced growth in Q4, with 36 transactions totaling nearly US$4 billion, compared to 32 IPOs and US$780 million in the previous quarter. While the number of IPOs remained below historical averages, European IPOs offered US$21.44 billion in 2024, exceeding the US$17.19 billion in 2023.