Agency Report –
More German and European companies are expected to launch on the stock markets next year after a turbulent 2025.
Martin Steinbach from consultancy giant EY said on Wednesday that the outlook is “cautiously optimistic.”
Across Europe, there is a “significant backlog of companies waiting for the right window of opportunity to go public,” he said.
In 2025, EY counted 1,259 initial public offerings (IPOs) worldwide, slightly more than the 1,240 registered last year.
The companies raised $163.3 billion, almost a third more than in 2024.
In Europe, however, the number of initial listings fell by almost a quarter from 131 to 100.
“After a good start to the year, uncertainties surrounding changes in US customs policy and geopolitical tensions slowed IPO activity,” explained EY.
According to the overview, the German capital market saw seven new listings in the current year, one fewer than in 2024.
Nevertheless, three of the German stock market newcomers were among the five largest European IPOs in 2025: prosthetics manufacturer Ottobock, Germany’s largest naval shipbuilder TKMS and automotive supplier Aumovio.
With proceeds of around €800 million, Ottobock was the largest IPO in Germany since the Douglas perfumery chain in 2024.
However, a number of German candidates also cancelled their stock market plans in 2025, including pharmaceutical manufacturer Stada, medical technology company Brainlab and automotive spare parts retailer Autodoc.
EY expert Steinbach sees potential for up to 10 IPOs in Germany in 2026. He also believes that the “pipeline remains well filled” worldwide.
