What is an IPO?
Once listed, investors can buy and sell the company’s shares on the open market. IPOs are often used by businesses to raise capital, reduce debt or provide liquidity for early investors.
Some IPOs generate significant market attention, particularly when they involve large technology companies or well-known consumer brands. However, newly listed companies can also experience heightened volatility because they have limited trading history and investor expectations can shift quickly.
Why are IPO markets improving now?
IPO markets are showing signs of renewed momentum after a quieter period for new listings. As interest rates stabilise and investor appetite for growth companies improves, several high-profile businesses across technology, fintech, consumer and AI sectors are being closely watched for potential public listings.
IPO activity slowed significantly between 2022 and 2025, as higher inflation and rapidly rising interest rates driven by a combination of global shocks and domestic pressures that built up after the COVID-19 pandemic reduced investor appetite for riskier growth-focused companies. Central banks including the Federal Reserve and Bank of England aggressively increased borrowing costs to combat inflation, which pushed up bond yields and made safer assets more attractive relative to IPOs and high-growth technology stocks.
At the same time, geopolitical tensions, recession fears and volatile equity markets made it harder for companies to achieve the valuations they wanted, leading many businesses to delay or cancel planned listings. Weak post-listing performance from several high-profile IPOs also reduced investor confidence and made markets more selective about new entrants.
Right now, several factors are helping improve conditions:
Stabilising interest rates
Lower expectations for further rate increases have improved sentiment towards growth-focused companies, particularly in technology sectors.
AI-driven market enthusiasm
Artificial intelligence infrastructure and software companies continue attracting strong investor attention, creating momentum for related IPO candidates.
Backlog of delayed listings
Many large private companies postponed IPO plans during 2023–2025 and are now reconsidering public listings as conditions improve.
Selective investor demand
While the IPO market has reopened somewhat, investors remain highly selective and are focusing mainly on companies with clear growth potential, strong balance sheets and established market positions.
Upcoming UK IPOs to watch now
The UK IPO market has been relatively subdued in recent years, but several companies continue to be linked with potential listings as London attempts to attract more high-growth businesses.
These examples are not recommendations, and IPO timelines may change.
1. Monzo – Fintech profitability and UK market reform
Digital bank Monzo remains one of the most closely watched potential UK IPO candidates. The company has continued expanding rapidly, with Monzo recently surpassing 15 million customers in the UK after adding millions of new users over the past two years, while also moving towards sustained profitability. Strong growth in both personal and business banking has helped revive speculation around a potential London IPO.
Investors are also watching broader UK market reforms designed to make London more attractive for technology and fintech IPOs. If Monzo does list on the London Stock Exchange, as anticipated, it could become one of the UK market’s most significant fintech debuts in years.
2. Starling Bank – Digital banking competition
Starling Bank has also been linked to a potential IPO following operational restructuring and continued expansion in business banking, where it now serves hundreds of thousands of UK SMEs and has captured close to 10% of the UK business banking market according to industry estimates
The digital banking sector remains highly competitive, but improving profitability across challenger banks has renewed interest in whether firms such as Starling may revisit listing plans as market conditions improve.
3. Shein – Global scrutiny and consumer demand
Fast-fashion retailer Shein continues to attract attention as one of the most talked-about potential IPOs globally, although listing plans remain subject to regulatory approvals and geopolitical scrutiny.
Investor interest reflects the company’s rapid international growth and dominance in online retail. However, concerns around its supply chains ethics, regulation and competition mean any future IPO would likely attract significant debate as well as strong market attention.
Upcoming US IPOs to watch now
The US remains the largest IPO market globally, particularly for technology, AI and consumer companies.
1. Stripe – Fintech recovery and digital payments growth
Payments company Stripe has long been viewed as one of the most anticipated IPO candidates in the technology sector.
Interest in Stripe has grown again as fintech valuations stabilise and digital payment adoption continues globally. Investors are also watching whether improving conditions for technology stocks could finally encourage the company to move ahead with a public listing.
2. Databricks – AI infrastructure demand
Databricks is widely viewed as one of the most significant AI-related IPO candidates currently being discussed.
The company operates in cloud data and AI infrastructure, areas that have seen substantial investment growth following the rise of generative AI tools. Market enthusiasm around AI-related businesses has helped fuel speculation about a future listing.
3. Inspire Brands – Consumer IPO activity returning
Restaurant group Inspire Brands, which owns chains including Dunkin’ and Baskin-Robbins, recently confidentially filed for a US IPO.
Its planned listing is being closely watched as a sign that investor appetite for consumer-focused IPOs may be improving after a slower period for the sector.
International IPOs to watch now
Outside the UK and US, several international companies are also attracting attention as potential IPO candidates.
1. Kraken – Crypto market recovery
Crypto exchange Kraken has reportedly explored plans for a potential public listing as digital asset markets enjoy potentially improved positioning due to continued US regulatory and legal advances.
Investor sentiment towards crypto-related IPOs remains highly sensitive to regulation and cryptocurrency price movements, meaning conditions could change rapidly.
2. Canva – Profitability and creator economy growth
Australian design software company Canva remains a frequently discussed IPO candidate due to its global user base and expansion into enterprise software tools.
As AI-powered design tools become more widely adopted, investors are increasingly watching whether Canva may seek a public listing to support future growth ambitions.
3. OpenAI - AI infrastructure spending and IPO momentum
OpenAI has become one of the most closely watched private companies globally following the rapid adoption of ChatGPT and the broader surge in demand for generative AI tools. Investor attention has intensified as the company reportedly lays the groundwork for a potential IPO as early as late 2026, with some estimates suggesting a valuation that could approach or even exceed $1tn.
Right now, investors are focused on whether OpenAI can continue converting explosive revenue growth into a sustainable long-term business model. The company’s expansion into enterprise AI, infrastructure partnerships and AI agents has helped reinforce its position at the centre of the current AI boom. At the same time, concerns remain around the enormous cost of AI infrastructure, regulatory scrutiny and increasing competition across the sector.
4. Anthropic – enterprise AI growth and the race to public markets
Anthrophic the developer behind the Claude AI models, has emerged as one of OpenAI’s biggest competitors and is increasingly viewed as a potential IPO candidate in its own right. The company has gained attention for its strong growth in enterprise AI tools, particularly coding and business productivity applications, while reportedly exploring funding rounds that could value the business at hundreds of billions of dollars.
Investors are watching Anthropic closely because it represents a slightly different angle on the AI market, with a heavier emphasis on AI safety, enterprise adoption and partnerships with major technology firms including Amazon. Reports have also suggested the company could pursue a public listing within the next 12–18 months if market conditions remain supportive.
At the same time, Anthropic faces similar challenges to other AI firms, including rising infrastructure costs, increasing competition and questions around how quickly AI companies can translate rapid adoption into long-term profitability.
Quick fact
Some companies now choose confidential IPO filings, allowing them to prepare listings privately before publicly disclosing financial information and timelines.
Risks of investing in IPOs
IPO investing can involve additional risks compared to more established public companies.
Newly listed businesses often have limited trading history, which can make valuation more difficult. Share prices may also experience significant volatility during the first few weeks or months after listing, a common recent pattern being a liquidity and / or price spike in the initial days following an IPO, before falling during long term price discovery.
Past performance is not an indicator of future results.
Other risks include:
High investor expectations failing to materialise
Limited public financial history
Rapid changes in market sentiment
Lock-up expiries increasing selling pressure
For traders using leveraged products such as CFDs or spread betting, losses can exceed initial deposits. This highlights the need for appropriate risk management measurements, including (but not limited to) attaching stops and limits to automatically close out trades at specified levels, hedging, choosing trades that may carry less risk, and diversifying your portfolio.
How to trade or invest in IPOs
There are several ways to gain exposure to IPOs:
Primary market investing
Some investors subscribe to shares before the company officially lists. However, this usually requires a sophisticated investor to take part, and for many retail investors this simply isn’t viable.
Secondary market investing
Once listed, shares can be bought and sold through a share dealing account.
Trading IPO volatility
Some traders speculate on price movements using CFDs or spread betting rather than owning shares outright.
FAQs
Yes. Newly listed companies can experience high volatility, and investor expectations may change quickly.
Yes. UK traders and investors can access IPOs through share dealing, CFDs and spread betting depending on the market and provider.
Businesses may postpone listings due to market volatility, valuation concerns or economic uncertainty.
