Press release
Nasdaq Maintains Over a Decade of Listings Leadership in 2025
Largest Exchange Transfer in History & Biggest IPO of the Year Highest Capital Raised Since 2021 - $46.65 Billion Raised NEW YORK, December 18, 2025 --
About this update from Nasdaq, Inc.
[{"type":"text","content":"Largest Exchange Transfer in History & Biggest IPO of the Year\n Highest Capital Raised Since 2021 - $46.65 Billion Raised\n NEW YORK, December 18, 2025 -- 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 representing $1.2 Trillion in market cap transferred their corporate listings to Nasdaq in 2025 including Walmart, the largest exchange transfer in history.\n “2025 marked a meaningful improvement 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.”\n A video accompanying this announcement is available at: https://vimeo.com/nasdaq/2025listings \n 2025 NASDAQ LISTINGS HIGHLIGHTS\n 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, Shopify, and Kimberly Clark. Since 2005, Nasdaq has attracted more than 500 listing transfers representing over $4 trillion in market value, as measured on the respective date of their transfer.Deepened Commitment to Texas: Nasdaq announced plans to launch Nasdaq Texas, a dual listing exchange venue designed to expand Nasdaq’s services for companies across the state and beyond while bringing new growth opportunities to U.S. investo...