Global IPO Market Cools as Companies Postpone Listings Following Post-Debut Drops

The global IPO market has stalled as tepid institutional demand, elevated valuation concerns, and post-listing pullbacks deter new offerings. Momentum slowed sharply following SpaceX's $75 billion June debut, with its shares retreating to around $158.9 after an initial 19% surge. Tech listings in 2026 have fallen an average of 23% after day one, according to BCA Research. Candidates including Oura, SB Energy, EG Group, Holtec, and Bamboo Insurance have postponed or withdrawn planned debuts, while Anthropic delayed its offering to mid-November and OpenAI pushed its target to 2027.