The U.S. IPO market’s anticipated rebound faltered due to a stock market decline from Trump‘s tariff policies. Companies are staying private longer, impacting IPO activity, mirrored by Thai market struggles.
IPO Market Challenges
Before global uncertainties affected the market, the U.S. IPO sector was expected to rebound after years of poor performance, with promising companies preparing for public offerings. Matt Kennedy of Renaissance Capital anticipated a revival in IPO activity by 2025. However, the surge faltered due to US President Donald Trump‘s tariffs, causing a stock market decline. Renaissance analysts now predict only 150 IPOs in 2025, marking a fourth year of decline. Companies stay private longer, supported by ample private capital. Meanwhile, smaller startups struggle to launch successful IPOs, according to Jeremy Abelson of Irving Investors.
Thai Stock Market IPOs
Economic uncertainty under the Trump administration hampers IPO activity, with volatile markets complicating public offerings. This situation is echoed in Thailand, where the mai index saw only three IPOs in 2025. LTMH Public Company debuted at THB 5.00, ending at THB 4.78. Mother Marketing started at THB 1.40, falling to THB 0.67, while Pro Inside rose from THB 3.00 to THB 4.08. Bangkok Asset Intergroup is set to enter at THB 1.80. With global tensions persisting, the IPO slowdown shows no clear end.
