The Largest IPOs of 2025 and Their Performance Results
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 18 2025
0mins
Source: CNBC
Medline's IPO: Medline completed a $6.26 billion IPO, the largest of the year, with shares opening at $35 on Nasdaq, contributing to a resurgence in the IPO market in 2025.
2025 IPO Market Overview: The first three quarters of 2025 saw 176 companies go public, marking the best year for IPOs since 2021, when 401 companies debuted.
Aura Minerals Performance: Canadian mining firm Aura Minerals had a $196.4 million IPO in July, with its stock surging nearly 92% since then, reaching a market cap of about $3.9 billion.
Circle Internet Group and Miami International: Circle Internet Group raised over $1 billion in its June IPO, with shares up 168%, while Miami International raised $345 million in August, gaining 88.5% since its listing.
Analyst Views on MIAX
Wall Street analysts forecast MIAX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MIAX is 47.20 USD with a low forecast of 37.00 USD and a high forecast of 55.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
4 Buy
2 Hold
0 Sell
Moderate Buy
Current: 42.440
Low
37.00
Averages
47.20
High
55.00
Current: 42.440
Low
37.00
Averages
47.20
High
55.00
About MIAX
Miami International Holdings, Inc. is a multi-asset exchange operator. It is a technology-driven in building and operating regulated financial marketplaces across multiple asset classes and geographies. Its products include MIAX, MIAX Options, MIAX PRIME, MIAX Technologies, MIAX Pearl, and MIAX Emerald. Its segments include Options, Equities, Futures and International. The Options segment includes business operations of listed options on the stocks of individual equities and options on exchange-traded products (ETP). The equities segment includes its business operations relating to listed U.S. equities and ETP transaction services. The futures segment includes its business operations relating to futures transaction services provided by its futures exchange and clearing house, MIAX Futures. The International segment includes listing services for capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants and insurance linked securities.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
