Global IPO Proceeds Hit Record, Listing Numbers Drop – EY

Editorial Staff

2 October 2026

Global initial public offerings raised $93.3 billion in the third quarter of 2026, up 79 per cent from $52 billion a year earlier, according to the latest IPO Barometer from EY, the professional services firm.

The number of IPOs fell about 2 per cent to 367, from 374.

In the first nine months of the year, issue volume reached a record $287.5 billion, up about 151 per cent from $114.4 billion. The number of IPOs fell to 888, from 922. Fewer, larger deals drove the market.

The listing of SK Hynix on Nasdaq was by far the biggest third-quarter deal at $26.5 billion. It was followed by CXMT Corp in Shanghai at $9.8 billion and Zhongji Innolight in Hong Kong at $7.8 billion.

The US recorded only 24 IPOs in Q3, against 65 a year earlier, but volume rose 121.9 per cent to $35 billion. China saw both measures rise, with 79 IPOs raising $43.1 billion, compared with 58 raising $18.4 billion.

Earlier in 2026, Elon Musk’s SpaceX was arguably the IPO of the decade with a share flotation in June.

European exchanges hosted 45 IPOs, up from 24, but volume fell to $2.9 billion from $3.7 billion. Switzerland stayed subdued after three listings in the second quarter. Infracore, a real estate company specialising in hospital and healthcare infrastructure, listed on the SIX Swiss Exchange on 9 July. It raised about SFr238 million ($284 million) at SFr54 a share, giving a market capitalisation of about SFr826 million. SIX has announced a planned listing of Infomaniak, subject to outstanding conditions. For the UK, latest figures that this publication can obtain are up to the middle of 2026. In the first half of the year, the London Stock Exchange recorded seven new listings, raising £577 million ($765 million) in total. Three were on the main market and four on AIM, and proceeds were up 215 per cent on the £183 million raised in the first half of 2025.

Such data is a reminder of how policymakers are, or saying they are, trying to ease regulatory burdens to encourage listings and sustain financial hubs. In London, for example, the IPO market has languished. The EU Listing Act cuts prospectus requirements to two years of annual financial statements. Higher thresholds mean that many companies no longer need to report under the Corporate Sustainability Reporting Directive.

Technology accounted for 67.4 per cent of global placement volume in the quarter. Over nine months, advanced manufacturing led with 41.4 per cent and technology took about 32 per cent. EY said critical infrastructure, energy, artificial intelligence, robotics and defence companies drove activity, helped by government orders and stimulus programmes.