US IPO market revival takes root as Chime soars in debut
By Manya Saini and Niket Nishant
(Reuters) -New listings in the U.S. have bounced back sharply in recent weeks, with some eye-popping debuts stoking hopes of a sustained revival after a dry spell since April.
On Thursday, fintech firm Chime (CHYM) climbed 59% in its debut, extending a winning streak for the latest U.S. stock market entrants.
"If Chime trades well in the first few weeks, boardrooms at a dozen other 'waiting room' candidates may move from paper-testing S-1s to pressing the 'file' button," said Michael Ashley Schulman, partner and CIO at Running Point Capital Advisors.
The packed IPO calendar for the rest of 2025 includes high-profile names such as Klarna, Gemini and Cerebras.
IPO activity had remained shackled after President Donald Trump's "Liberation Day" tariff threats in April rattled global markets and hit sentiment.
Several of 2025's most closely watched IPOs, including Circle (CRCL), eToro (ETOR) and CoreWeave (CRWV), have soared since their debuts.
"The June IPO market window has clearly been a success with the hugely popular IPO of Circle Financial, and its incredible after-market rise," said Samuel Kerr, head of equity capital markets at Mergermarket.
The strong listings may boost confidence among investors and late-stage startups preparing to go public, experts have said.
"There's a clear backlog of well-capitalized, later-stage firms looking to go public and a successful June slate could set the tone for a stronger Q4," said Kat Liu, vice president at IPOX.
U.S. IPOs had raised $25.36 billion in 2025 as of June 11, according to data from Dealogic. That compares with $18.22 billion and $9.53 billion raised over the same period in 2024 and 2023, respectively.
Crypto exchange Gemini, buy-now-pay-later firm Klarna, AI chipmaker Cerebras and medical supplies company Medline are marquee names that investors are tracking in the latest wave of IPO hopefuls.
Cancer diagnostic firm Caris Life Sciences and insurance tech firm Slide have kicked off roadshows ahead of their expected U.S. market debuts next week.
Finance, technology, oil and gas, and healthcare have dominated the listings this year, data shows.
Top banking executives and exchange heads have said in recent weeks that the IPO market remains open, particularly for companies in sectors insulated from tariff risks.
A boom in crypto listings may also be on the horizon, according to analysts and industry experts, with companies preparing to ride the momentum from strong recent debuts and improving sentiment.
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