Largest Exchange Transfer in History & Biggest IPO of the Year
Highest Capital Raised Since 2021 - $46.65 Billion Raised
NEW YORK, Dec. 18, 2025 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq: NDAQ) announced today that in 2025 it raised a total of $46.65 billion from new listings, marking the strongest year for capital raise since 2021. In addition, 22 companies transferred their corporate listings to Nasdaq in 2025 including Walmart, the largest exchange transfer in history. Since 2005, companies transferring their listing to Nasdaq have represented more than $4 trillion in total market value.
“2025 marked a meaningful resurgence for the public markets. Companies at every stage continue to choose Nasdaq because of our unmatched global visibility and our long-term commitment to innovation, transparency and growth,” said Jeff Thomas, Executive Vice President, Global Head of Listings at Nasdaq. “Public markets remain the cornerstone of the American economy, and we are focused on helping companies navigate an evolving landscape. We look forward to building on this momentum and driving continued growth in 2026.”
A video accompanying this announcement is available at: https://vimeo.com/nasdaq/2025listings
2025 NASDAQ LISTINGS HIGHLIGHTS
- IPO Market Leadership: Nasdaq raised $46.65 billion in 2025 from new listings - the highest volume of capital raised since 2021. Marquee listings included Medline (the largest overall IPO and healthcare IPO of the year, raising over $6 billion), CoreWeave (the largest AI IPO of the year), and SailPoint (the largest enterprise software IPO of the year). The listings success was further reflected in Nasdaq’s European markets, which have been responsible for over half of all capital raised in Europe in 2025, including the public debut of Verisure, Europe’s largest IPO since 2022.
- Exchange of Choice for Listing Transfers: 22 companies transferred their corporate listing to Nasdaq in 2025, totaling $1.2 trillion in market value, including Walmart, the largest exchange transfer in history. Since 2005, Nasdaq has attracted more than 500 listing transfers representing over $4 trillion in market value.
- Deepened Commitment to Texas: Nasdaq announced plans to launch Nasdaq Texas, a dual listing venue designed to expand Nasdaq’s services for companies across the state while bringing new growth opportunities to U.S. investors. Nasdaq partners with 800 clients in Texas and is home to over 200 listed companies headquartered in the state, representing over $2 trillion in market capitalization.
- Leadership in Regulatory Reform: Building on its work in revitalizing public market policy, Nasdaq convened leaders from the public and private market ecosystem and hosted an event with SEC Chairman, Paul S. Atkins to discuss opportunities and challenges facing the public market. These efforts continue to be guided by Nasdaq’s advocacy white paper and work focused on advancing smart regulatory reform and modernizing market structures that foster capital formation.
About Nasdaq:
Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com
Nasdaq Media Contact
| Sophia Weiss | |
| (646) 483-6960 | |
| Sophia.weiss@nasdaq.com | |
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Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Forward-looking statements can be identified by words such “will,” “plans,” “expects,” “may,” “believe” and other words and terms of similar meaning. Such forward-looking statements include, but are not limited to, statements about the Company’s growth strategy and market expectations, products and services, ability to enhance or innovate new ways for companies to join the public markets, and other statements that are not historical facts. Forward-looking statements involve a number of risks, uncertainties, or other factors beyond Nasdaq’s control. These risks and uncertainties are detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on Nasdaq’s investor relations website at ir.nasdaq.com and the SEC’s website at www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
