Celebrating Listings & Milestone Moments at Nasdaq in 2023

2023 brought a renewed excitement to Nasdaq and the public markets at large, with blockbuster IPOs, listing transfers, and events that showcased our commitment to supporting and celebrating clients at every stage of their lifecycle. As Global Head of Listings at Nasdaq, I’m privileged to share that Nasdaq is once again the leading U.S. Exchange by total number of IPOs and proceeds raised for the fifth consecutive year. Together, we welcomed the largest IPO of the year by proceeds raised (Arm), the largest switch of all time to Nasdaq (Linde), the largest spin switch (GE Healthcare), as well as the largest SPAC combo (VinFast).?

New Listings Triumphs

We were proud to welcome 125 IPOs to the Nasdaq family, representing $13 billion in IPO proceeds raised, and an impressive 86% win rate of Nasdaq-eligible IPOs in the U.S. market. ?We kicked off the year with GE Healthcare, the largest spin switch listing of the year, and as traditional IPOs started to gain steam, we were thrilled that three out of the five largest IPOs of the year by proceeds raised (Arm, Instacart and Nextracker) chose Nasdaq as their home.

In addition to welcoming the spin of GE Healthcare in January, we were also honored to welcome the Atlanta Braves, which spun-off from Liberty Media, as well as Nextracker, which spun-off from Flex. ?We were also delighted that innovative companies around the globe including Vinfast (Vietnam), Hesai (China), Gamer (Pakistan), and Lavoro (Brazil) all chose to join the home of the world’s most innovative companies when they listed on Nasdaq in 2023.

Lastly, I’m honored to share that more market value switched to Nasdaq in 2023 than any other U.S. exchange – representing 26 listings and $374 billion in mkt cap from household names like CooperCompanies, DoorDash and Linde. That makes for more than $2.7 trillion in market cap that has transferred to Nasdaq since 2005.?

Reimagined Client Experience, Milestone Moments & Remote Bells

At Nasdaq, we’re continuously innovating and elevating the listings experience to provide a more inclusive celebration for our clients. This year, we unveiled our newly reimagined MarketSite, representing Nasdaq's commitment to providing an exceptional client and listing day experience. This enhanced space features state-of-the-art studio tech enhancements and brand-new Listings, Market Intelligence & Client Showcase Centers.? This space was strategically launched to provide additional space for our new, listed and partner clients to leverage throughout their lifecycle on Nasdaq.

In addition to bringing more of our Nasdaq-listed community to MarketSite, 2023 also brought a return to travel and in-person connections and remote bell ceremonies directly to our clients and partners in the communities they serve.

At MarketSite, to name a few, we celebrated the listing anniversaries of Paychex (40 years), Intuit (30 years),?eBay (25 years), American Airlines (10 years), Marriott International (10 years), Moderna (5 years), and one-year anniversaries of Mobileye and TPG.? We were also ecstatic to celebrate Intel’s 52 year listing anniversary and “AI Everywhere” announcement in December.

Nasdaq’s remote celebrations took us across the globe in 2023 to Canada with OpenText and to our first-ever remote bell in Brazil celebrating our partnership with XP. We welcomed new members of the Nasdaq family, ringing in GE Healthcare’s listing in Waukesha, Wisconsin and celebrating the highly anticipated Instacart IPO at their world headquarters in San Francisco, CA.? Most recently, we had the honor of convening and celebrating with over 200+ listed companies from the Governor’s Mansion in Austin, Texas.

Looking Ahead: 2024 and Beyond

As 2023 comes to an end and we prepare for the new year, we are cautiously optimistic on the new issue market into 2024 given the combination of the Fed’s positioning, robust S&P 500 and Nasdaq Composite Index performance, muted market volatility, reasonable valuations, and positive investor sentiment. It is also worth noting that the number of operating companies looking to access the public markets on Nasdaq is up 28% from this time last year.

Companies continue to choose Nasdaq as their exchange partner because of our commitment to advising them as they prepare for the public markets and to supporting them throughout their lifecycle as they navigate the public markets, including Governance, Regulatory and Investor Relations best practices.

Our achievements in 2023 are a testament to Nasdaq’s ability to adapt, innovate and evolve as we deliver on our commitment to serve as the trusted fabric of the financial system.

On behalf of the entire team at Nasdaq, we thank you for your partnership and look forward to making 2024 even better.