European exchanges must raise about $5bln via IPOs before year-end to top last
year’s total, a steep task in a market prone to postponements. Autumn deals
could deliver the sum, but the margin for error is slim and only a handful of
$1bn-plus listings remain in the pipeline. Compiled data show Europe’s 2025 IPOs
have raised $16.7bln, up on the prior year but still below historical norms.
