Over the past twenty or so years, the market has averaged about 254 IPOs annually. However, since its peak in 2021, we’ve fallen short of the average, every year.

But…

Even though we’ve been trending below average, 2024 did offer not only an uptick in new issues, but some incredible opportunities as well.

And, as Gareth McCartney, global co-head of equity capital markets at UBS says, the global IPO market is likely to see a resurgence in 2025…

He’s urging participants to “be ready and prepared.”

And so far, it looks like he may be right.

You see, as of this writing, we’re on pace for about 350 or so IPOs this year. That’s well above the long-term average of 254.

Up to today (early July) we’ve seen 177 IPOs thus far.

Here’s the top 20, as of this writing:

Diginex Limited (DGNX), which went public on January 22 at $4.10 and soared to around $48.00, delivering a staggering +1080% gain in the consulting services sector.

Next is Anbio Biotechnology (NNNN), which debuted on February 19 at $5.00 and surged to about $43.97, a +687% return, driven by strong interest in medical supplies.

Circle Internet Group (CRCL) had one of the year’s most anticipated offerings, launching at $31.00 on June 5 and climbing to $206.10 — a +569% increase, fueled by its crypto-related business.

Concorde International Group (CIGL), a security services firm, rose +494%, going from $4.00 to $24.99 after its April 22 IPO.

CoreWeave (CRWV), the AI cloud infrastructure leader, went public on March 28 at $40.00 and climbed to $155.70, a +290% gain.

Epsium Enterprise (EPSM), in the beverage sector, saw its shares rise +275%, from $4.00 to $14.69 since going public on March 26.

Smart Digital Group (SDM) jumped from $4.00 to $12.91 since its May 2 IPO, for a +203% gain.

LZ Technology Holdings (LZMH) has nearly tripled, increasing +199% from $4.00 to $11.20 since its February 27 debut.

Aether Holdings (ATHR) also impressed, rising +186% from $4.30 to $13.01 after its April 10 IPO.

Ascentage Pharma Group (AAPG) more than doubled from $17.25 to $41.05, a +143% gain since January 24.

Ruanyun Edai Technology (RYET) gained +143%, climbing from $4.00 to $9.54 after its April 8 listing.

Phoenix Asia Holdings (PHOE) rose from $4.00 to $8.28 since April 25, for a +122% return.

MasterBeef Group (MB), a restaurant sector entrant, is up +120%, also going from $4.00 to $9.10.

Pitanium Limited (PTNM) has delivered a +118% gain, trading near $9.03 after IPOing at $4.00 on May 30. Aerospace player

AIRO Group Holdings (AIRO) has seen its shares more than double from $10.00 to $21.26 since June 13, a +112% gain.

Karman Holdings (KRMN), which IPO’d February 13 at $22.00, has risen +105% to $44.71.

Mint Incorporation (MIMI) is up +84%, from $4.00 to $7.32 after launching January 10.

Cuprina Holdings (CUPR), a Cayman-based biotech, rose +71%, climbing from $4.00 to $6.76.

JFB Construction Holdings (JFB) saw a +68% return, rising from $4.13 to $6.82.

Rounding out the top 20 is Metsera Inc. (MTSR), a biotech firm that increased +57% since its January 31 IPO, from $18.00 to $28.77.

In conclusion: just about halfway through the year, and the 2025 IPO market is already outpacing the long-term annual average of new offerings, 254, by nearly 40%.

There’s been a number of fantastic winners and…

As interest rates have stabled (with the potential for cuts later this year), it’s possible we see this pace not only continue, but pick up.

So, if you’re an IPO investor, get ready!