"After a couple of down years, blockbuster IPOs have come back this year. The U.S. was home to two of the year's biggest listings: CoreWeave on the Nasdaq and Figma on the NYSE, which raised $1.5 billion and $1.2 billion respectively. Hong Kong's listings are dwarfing those in the U.S.: battery maker CATL's secondary listing in the Chinese city is still the year's largest IPO, raising $5.5 billion back in May."
"Nasdaq's McCooey on Monday claimed that he spent a lot of time suggesting that executives look at home first, before looking abroad. "I believe that most companies belong in their local markets. I firmly do," he said. "I don't go to Hong Kong, China, Tokyo, Singapore, Argentina, and try to convince companies not to list in their local markets, because most companies do belong there." (Lest one think McCooey was being too charitable, he also said Nasdaq has "the strongest value proposition" for those companies that do decide to list overseas.)"
Global financial leaders convened in Riyadh to focus on capital markets and listings. After several slow years, blockbuster IPOs returned with CoreWeave raising $1.5 billion on Nasdaq and Figma raising $1.2 billion on the NYSE. Hong Kong led with CATL's secondary listing raising $5.5 billion. Exchanges worldwide are competing to attract listings by offering friendlier regulations, investor education, and deeper capital pools. Nasdaq emphasized that most companies should prioritize local listings while presenting a strong value proposition for firms choosing overseas listings. Alternative trading platforms and rising investor sophistication are accelerating market change.
Read at Fortune
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