Nasdaq Maintains Over a Decade of Listings Leadership in 2025

In a year characterized by significant activity in the IPO market, Nasdaq led the charge with $46.65 billion raised from new listings. Notable IPOs included Medline, which emerged as the largest overall and healthcare IPO of the year, raising over $6 billion. Other significant listings included CoreWeave, recognized as the largest AI IPO of the year, and SailPoint, which held the title for the largest enterprise software IPO. Nasdaq's European markets also showed remarkable growth, accounting for over half of all capital raised in Europe. The listing of Verisure, Europe’s largest IPO since 2022, further reflects Nasdaq's strong international presence.

In 2025, Nasdaq attracted 22 companies to transfer their corporate listings, with a total market value of $1.2 trillion. This included Walmart, marking the largest exchange transfer in history. Since 2005, Nasdaq has successfully garnered more than 500 listing transfers, representing over $4 trillion in market value, underscoring its reputation as the preferred exchange for companies looking to relocate their listings.

In an effort to expand its services and bolster economic growth, Nasdaq announced the launch of Nasdaq Texas, a dual listing venue tailored to companies operating within the state. This initiative aims to enhance opportunities for U.S. investors while fostering a vibrant environment for businesses. Nasdaq currently partners with 800 clients in Texas and boasts more than 200 listed companies headquartered in the state, collectively representing over $2 trillion in market capitalization.

Nasdaq's commitment to advancing public market policy was showcased through its recent event featuring SEC Chairman Paul S. Atkins. The gathering brought together leaders from both the public and private market ecosystems to discuss the challenges and opportunities facing the public markets today. Nasdaq's advocacy white paper, focused on promoting smart regulatory reform and modernizing market structures, continues to guide these initiatives aimed at fostering capital formation.

Jeff Thomas, Executive Vice President and Global Head of Listings at Nasdaq, expressed optimism about the future, stating, “2025 marked a meaningful resurgence for the public markets. Companies at every stage continue to choose Nasdaq because of our unmatched global visibility and our long-term commitment to innovation, transparency, and growth.” He emphasized that public markets remain a cornerstone of the American economy, and Nasdaq is dedicated to helping companies navigate the evolving landscape ahead.

As Nasdaq prepares for 2026, it aims to build on this momentum, driving continued growth and opportunities for both companies and investors alike.

With its impressive capital raising capabilities, a surge in corporate listing transfers, and a focus on regulatory reform, Nasdaq remains a critical player in the global financial landscape. As it looks toward the future, Nasdaq's initiatives, such as Nasdaq Texas, highlight its commitment to innovation and its role in supporting the economic growth of businesses across the United States.