Euronext Goes a Year Without Major IPO as Paris, Amsterdam Quiet

For the first time since Euronext NV’s own initial public offering more than a decade ago, companies raised less than $1 billion through IPOs across its exchanges in 2025, bearing the brunt of the continent’s capital markets stagnation.

The operator of bourses in France, the Netherlands, Italy, Ireland, Norway, Belgium, Portugal and Greece only had two IPOs that raised more than €100 million ($117 million) last year. The year was impacted by political tensions as well as rising competition — including from more buoyant bourses in the region like Stockholm, which beat out venues including Amsterdam to win Europe’s biggest IPO in three years.