European IPOs increasingly turn to US as exchanges lose major listings

Aggreko and Oura are the latest companies planning US offerings as European markets try to retain high-growth businesses.

European stock exchanges are losing more major initial public offerings to the United States despite efforts by governments and bourses to retain listings, Bloomberg reported.

Aggreko could be valued at about $15 billion in a New York IPO, while Finnish smart-ring maker Oura may raise as much as $3 billion there. They follow European companies including Bending Spoons, Innio, and DPC Holdings that plan US listings in 2026.

Bloomberg data show that sizeable European companies have raised more through US IPOs this year than on their home exchanges. European companies listed at home since 2024 are trading 45% above their offer prices on a deal-weighted basis, compared with a 13% gain for those listed in the US.

Analysts say US listings can offer greater visibility and higher valuations, but warn that repeated moves could weaken Europe’s equity markets and shift investment, management, and headquarters activity across the Atlantic.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

European stock exchanges are losing more major initial public offerings to the United States despite efforts by governments and bourses to retain listings, Bloomberg reported.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.