Markets Mindset: Q3 2025 Equity Capital Markets: Mid-Year Snapshot

Markets Mindset: Q3 2025 Equity Capital Markets: Mid-Year Snapshot

Is the long-awaited return of the IPO market finally upon us? This year, the IPO market is on track to surpass last year’s ~$30 billion of issuance, as tech IPOs rebound and a wave of diversified companies hit the market, led by tech, industrial, defense and sponsor-related transactions.

As we head into the remainder of the year, what are the key trends that equity capital investors should be looking out for?

In our latest episode of Markets Mindset, Mizuho's Head of Equity Capital Markets, Josh Weismer, is joined by Managing Director of Equity Capital Markets, Richard Soto for their mid-year outlook on the industrials, consumer and TMT sectors.

Our experts outline their post-Labor Day outlook, anticipating a rise in IPO activity across TMT areas – including companies benefiting from artificial intelligence tailwinds, cryptocurrency, broader fintech, cybersecurity and infrastructure software. They also touch on Mizuho’s recent deals and give their thoughts on the expected Fed’s rate cuts in September and the potential impact on financial sponsors.

Hear our reflections on the IPO market year-to-date and where we see equity capital markets activity trending into Q3 and beyond.

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