At Mulberry Wealth Securities, our Advisory Team has been closely tracking the resurgence of IPO activity in Europe — and recent data suggest that the listing window may be reopening. According to the Financial Times, Europe’s public-markets pipeline is demonstrating early signs of recovery after an extended lull.
A cautious uptick in listings
Our Advisory Team estimates that in 2025 the number of European companies preparing for IPOs has increased by around 30 % compared to the trough years of 2022–23, with both issuers and advisors noting improved sentiment. The FT article points to a “string of companies launch or prepare initial public offerings” as evidence of this revival.
Mr. Richard Carver, CFO of Mulberry Wealth Securities, notes:
“For our clients, this isn’t simply market noise — it represents the possibility of growth-company exposure returning to Europe. The key is to be ready, selective and positioned.”
What’s driving the renewed interest?
From the perspective of our Advisory Team, several themes are contributing to this revival in Europe’s IPO activity:
- Improved market sentiment: After years of subdued issuance, the combination of better equity-market performance and stabilising economic conditions is helping companies contemplate listing again.
- Private capital readiness: A build-up of private-equity- and venture-backed companies means there is a latent pipeline of potential public-market entrants.
- Scarcity premium beginning to re-emerge: With fewer new listings in recent years, when firms do come to market they attract investor attention—creating more favourable conditions for issuers to float.
- Geographic diversification of listing venues: Some companies are reconsidering European markets (rather than defaulting to the U.S.), helped by regulatory tweaks and investor interest.
Mr. Richard Carver adds:
“The revival isn’t broad-brush yet — but when you see a pipeline like this building, it means investors need to ask: which companies are genuinely ready, and which are prematurely floated?”
Strategic implications for Mulberry Wealth Securities clients
For our clients, particularly Australian-based investors with long-term horizons, the resurgence of European IPOs suggests a few actionable considerations:
- Opportunity for early-stage European growth exposure: With the listing window opening, new-listing opportunities may offer entry points to companies before broader market recognition.
- Selectivity remains vital: Revival does not equal return—valuation discipline, management credibility and business model clarity remain core criteria for our team.
- Portfolio diversification benefits: European listings can provide exposure to different industries, regulatory regimes and growth vectors compared with Australian or U.S. stocks.
- Timing and execution matter: Given the relative infancy of the revival, not all companies may succeed post-listing. Our team emphasises follow-through performance over the IPO event itself.
- Maintain long-term horizon: For growth-oriented clients aged 35 and above, the real value is captured over years, not just on listing day. Our Advisory Team aligns selections with five- to ten-year plans.
Risks to monitor
Despite the positive signals, our Advisory Team highlights several risks to keep front-of-mind:
- Macro and market headwinds: Europe remains exposed to inflation, rate-hike risk, energy volatility and geo-political uncertainty—all of which could delay or derail issuance.
- Liquidity and market depth concerns: European listing markets often have less depth than U.S. markets, which may limit investor participation or widen post-listing volatility.
- Valuation risk: With more companies coming to market, there is a danger valuations get stretched, particularly if investor enthusiasm outpaces fundamentals.
- Pipeline timing risk: Some companies may announce intent to list but delay or fail to meet market conditions. The revival in activity is early stage.
Final thoughts
At Mulberry Wealth Securities, we view Europe’s IPO resurgence as a potentially meaningful development for long-term growth investors — but one that requires a disciplined approach. The window is reopening, but the runway is still being built.
Mr. Richard Carver concludes:
“Revival means possibility, not guarantee. For our clients, our job is to identify the companies that are ready, that have clear growth trajectories, and that fit into a long-term wealth-building strategy — not to chase the next float indiscriminately.”
If you’d like to explore how European IPOs, pre-IPOs or listing-related growth opportunities may fit into your wealth strategy — or how our Advisory Team can help identify and evaluate these opportunities — we’re ready to assist.
This blog post is for informational purposes only and does not constitute financial advice. Past performance is not indicative of future results.
