IPO earnings to watch as 2026 listings take shape

Some of 2026’s most closely watched IPO candidates are large private companies with fast-growing revenues, but their earnings profiles, valuations and listing timelines remain uncertain.

Upcoming IPOs to watch in 2026

Initial public offerings (IPOs) can bring new companies to public markets, creating new markets that traders may choose to monitor once shares begin trading. They can also be volatile, particularly in the first days and weeks after listing, when liquidity, valuation and investor demand are still being tested.

In 2026, the IPO market is being shaped by artificial intelligence, space technology, fintech, digital banking, e-commerce, aviation and private equity exits. Some expected listings remain uncertain, while others have already moved from ‘upcoming’ to post-IPO.

Here’s our breakdown of selected upcoming IPOs by region, the key themes to know, and how traders can speculate on newly listed stocks using contracts for difference (CFDs).

All information is current as of 28 May 2026 and may change based on regulatory approvals, company decisions and market conditions.

Upcoming IPOs in the UK

The UK IPO pipeline has become more active, although several major candidates are still weighing timing and venue. London’s updated listing rules may support future activity, but some high-profile UK fintech companies continue to consider US exchanges.

Revolut

Revolut remains one of Europe's most closely watched fintech IPO candidates. The company completed a fundraising process in 2025 that established a $75bn valuation (Retail Banker International, 25 November 2025), supported by reported 2024 revenue of $4.0bn and profit before tax of $1.4bn (FinTech Global, 24 November 2025). However, its listing timetable has shifted. CEO Nik Storonsky has indicated that an IPO is still around two years away, pointing to a potential 2027–2028 window rather than a near-term listing. A US listing has also been discussed, which could make Nasdaq more likely than London if the company proceeds.

Shein

Shein's IPO plans remain unresolved. The Singapore-headquartered fashion retailer previously pursued a London listing, but regulatory and disclosure questions have complicated the process. In July 2025, Shein reportedly filed confidentially for a Hong Kong listing, while London has remained a possible venue if the necessary approvals can be secured (Yahoo Finance / Reuters, 8 July 2025). The timing and final exchange are still uncertain.

Learn more about Shein’s potential IPO in our Shein IPO guide.

Monzo

Monzo is preparing for a future public listing, but no fixed date has been confirmed. The UK digital bank has brought in Morgan Stanley to advise on a potential float (FinTech Weekly, 12 May 2025), with reported valuation expectations ranging from around £6bn to £10bn depending on timing and market conditions (CeFPro, 31 October 2025). The appointment of Diana Layfield as chief executive in 2025 added a new phase to the company's IPO planning (Banking Dive, 30 October 2025), while the final listing venue remains subject to board and market considerations.

Starling Bank

Starling Bank is another UK challenger bank being watched as a possible future listing candidate. Reports in 2025 suggested the company was preparing a secondary share sale that could value it at £3.5bn–£4bn, with Morgan Stanley and Rothschild engaged to run the process (City A.M., 10 September 2025). A future IPO remains possible, although the company has not confirmed a date or venue.

Waterstones

Waterstones has previously been linked with a potential IPO in London or New York, but no confirmed timetable has been announced. Any listing decision is likely to depend on market conditions and the strategy of its private equity owner, Elliott Management.

BrewDog

BrewDog has delayed earlier plans to list on the London Stock Exchange. Its last widely reported valuation was around £1.8bn in 2018, and no new IPO date has been confirmed. The company continues to be mentioned as a possible future float, but the timing remains open.

Learn more about BrewDog’s prospective IPO in our BrewDog IPO guide.

Upcoming US and global IPOs in 2026

The US and global IPO pipeline is currently dominated by large private technology companies. AI infrastructure, generative AI, payments and space technology are among the main themes. Several of these companies have not confirmed formal IPO dates, and

reported valuation ranges may change quickly.

SpaceX

SpaceX is one of the most significant potential IPO candidates for 2026. Reports have pointed to a possible listing at a valuation above $1.5tn, aiming to raise as much as $50bn, which would make it one of the largest IPOs ever if completed (Reuters, 28 January 2026). The company's scale, Starlink satellite internet business and links to Elon Musk's wider group of companies have kept investor interest high (Investment Week, 18 February 2026), but the size, timing and final terms of any offering remain subject to formal confirmation.

OpenAI

OpenAI has been linked with a possible future public listing after raising substantial private capital. A 2026 funding round valued the company at approximately $852bn, led by SoftBank, Amazon, Nvidia and Microsoft (Telegraph Media via LinkedIn, 29 March 2026). No formal IPO filing has been confirmed as of 28 May 2026, so any listing remains speculative and dependent on the company's structure, funding needs and market conditions.

Anthropic

Anthropic, the AI company behind Claude, has also been discussed as a possible public-market candidate. The company was reported to be exploring a $50bn funding round at a valuation of $850–$900bn in May 2026, with a potential IPO as early as October 2026 cited in early discussions with Goldman Sachs, JPMorgan and Morgan Stanley (The Next Web, 30 April 2026). As with OpenAI, there is no confirmed IPO date, and any listing would depend on market conditions, funding requirements and regulatory considerations.

Stripe

Stripe remains one of the most closely watched fintech IPO candidates. A tender offer announced in late February 2026, backed by Thrive Capital, Coatue Management and Andreessen Horowitz, valued the payments company at $159bn – a nearly 50% jump in valuation over five months (Syndikos, 9 March 2026). Stripe has not confirmed an IPO date, but its scale, market position and repeated employee liquidity events mean it is likely to remain on IPO watchlists into 2026 and 2027.

Upcoming IPOs in Europe

Europe’s IPO market has changed since 2025, with several expected listings now completed or removed from the pipeline. Klarna and Verisure have already listed, while Novobanco is no longer an IPO candidate following its acquisition by BPCE.

Northern Data

Northern Data, a German technology company focused on high-performance computing, cloud infrastructure and AI services, remains a potential IPO candidate. The company has previously considered listing parts of its business, including data centre and cloud divisions, although no confirmed listing date has been announced.

Bitpanda

Bitpanda, the Austrian crypto exchange and broker, has been linked with a possible IPO as part of its long-term growth plans. The company was valued at $4.1bn in 2021, but no official listing date has been confirmed.

Visma

Visma is one of Europe's major enterprise software groups and has been mentioned as a potential large European IPO candidate (Charles Stanley, 9 January 2026). A future listing would likely depend on equity market conditions and private equity exit timing.

IVC Evidensia

IVC Evidensia, the veterinary care group, has been reported as a possible IPO candidate (Charles Stanley, 9 January 2026). The company operates across several international markets, but no official listing timetable has been confirmed.

Upcoming IPOs in the UAE

The UAE IPO market continues to be supported by state-linked companies, private sector growth and efforts to deepen local capital markets. Several potential listings remain under discussion, although not all have confirmed plans.

Etihad Airways

Etihad Airways is technically prepared for a possible public listing, but the airline has not confirmed an IPO date. CEO Antonoaldo Neves has said the decision rests with shareholders and that the airline does not currently need listing proceeds, as strong cash flow is supporting its 80bn AED ($21.8bn) expansion plans (Khaleej Times, 24 February 2026).

Noon.com

Noon.com remains a possible IPO candidate in the Middle East e-commerce sector, but no formal listing plans have been announced. Any future IPO would likely depend on market conditions, growth strategy and shareholder priorities.

Masdar

Masdar has previously been linked with a potential IPO to support renewable energy growth. The company has also stated it has no current plans to go public, so any listing remains speculative.

FIVE Holdings

FIVE Holdings operates luxury lifestyle hotels in Dubai and other international locations. The company has been linked with a possible listing, but no confirmed 2026 timetable has been announced.

Upcoming IPOs in Australia

Australia’s IPO market has been shaped by aviation, biotech and energy transition themes. Some earlier expected listings have remained delayed, while Virgin Australia has moved closer to a public-market return.

United H2

United H2 has previously discussed plans for a public listing, including a possible dual listing in Australia and North America. Its 2024 internal valuation was reported at $75m, but no confirmed IPO date has been announced.

HaemaLogiX

HaemaLogiX is a biotech company developing therapies for multiple myeloma. It has previously been linked with an ASX listing, although no confirmed 2026 listing date or final valuation has been announced.

Upcoming IPOs in Latin America

Latin America’s IPO pipeline includes digital finance and banking names, although some expected aviation listings have already moved into the post-IPO category. Timelines remain sensitive to interest rates, local regulation and cross-border investor demand.

Ualá

Ualá has grown into one of Latin America’s largest fintech companies, with operations across Argentina, Mexico and Colombia. The company extended its Series E funding round to $366m in 2025, following an initial round led by Allianz X and additional participation from TelevisaUnivision. Ualá has been linked with a potential IPO in 2026 or later, but no official listing date has been confirmed.

Citibanamex

Citigroup continues to work towards exiting its Mexican retail banking arm, Citibanamex. A public listing remains one possible route, after earlier timelines shifted due to regulatory and market considerations. Any IPO could take place in stages, depending on market conditions and approvals.

Listed IPO stocks you can trade

Traders cannot usually access IPO shares directly through CFDs before a company lists. Once a company becomes publicly traded, however, traders may be able to speculate on its price movements using CFDs, depending on platform availability.

Market capitalisations and share prices in this article are correct as of the latest available data cited and are subject to change.

How to assess IPOs in the market

There is no single way to define the ‘best’ IPO. A high-profile company, large valuation or popular sector does not guarantee post-listing performance. Traders often assess a wider set of factors, including valuation, revenue growth, profitability, sector sentiment, liquidity and the broader macroeconomic environment.

Pre-IPO valuation and revenue

Pre-IPO valuation can help traders understand market expectations, but it should be considered alongside revenue growth, margins and funding history. A company with a high valuation may still face pressure after listing if public-market investors question its growth rate or path to profitability.

Profitability metrics

Many IPO candidates are not yet profitable. In these cases, traders may look at gross margins, cash burn, free cash flow, adjusted earnings and management’s stated route to profitability. These metrics can help provide context, but they do not remove the risks of trading newly listed shares.

Sector trends and timing

IPO performance can be affected by broader market sentiment. AI and technology listings may attract stronger demand during periods of risk appetite, while rising rates or market volatility can reduce investor demand for new issues. Sector performance, index movements and comparable listed companies may all provide useful context.

Lock-up periods and insider activity

Post-IPO lock-up periods typically restrict insiders from selling shares for a set period, often 90 to 180 days. When these periods expire, additional supply can enter the market. Traders may review company prospectuses and regulatory filings to understand lock-up structures and insider ownership.

Investor backing and underwriters

The presence of established institutional investors or major investment banks can indicate strong pre-listing demand and due diligence. It does not guarantee performance, but it may help traders understand the level of market support behind an offering.

Regulatory and jurisdictional context

Companies in finance, healthcare, AI, crypto and aviation can face sector-specific regulatory requirements. The chosen listing venue can also affect liquidity, reporting standards, trading hours and investor access.

Learn more about IPO trading in our comprehensive IPO trading guide.

How to buy and sell IPO stocks with CFDs

Here are the main steps to trade IPO stocks after they go public.

• Step 1: Wait for the IPO listing IPO participation is usually limited to selected investors. Retail traders can trade some newly listed stocks via CFDs once they become publicly available.
• Step 2: Use technical analysisReview charts, price action and technical indicators to assess possible trading setups.
• Step 3: Choose your stockAccess available shares on the platform and decide whether to go long or short with CFDs.
• Step 4: Set price alertsUse price alerts to track key market movements. You should also continuously monitor your open positions and market conditions..
• Step 5: Manage your riskUse risk-management tools such as stop-loss* and take-profit orders to define your exposure.
• Step 6: Check trading hoursNewly listed US stocks may be affected by exchange hours, liquidity and, where available, extended-hours trading.
• Step 7: Stay informedFollow company updates, regulatory filings, earnings releases and relevant market news.
• Step 8: Keep learningExplore resources on share trading, CFD trading and IPO trading before opening a position.

*Stop-losses may not be guaranteed.

Learn more about share trading and the differences between share trading and CFD trading. You can also follow the latest shares market news, insights and analysis.

CFDs are traded on margin, and leverage can amplify both profits and losses. This content is for educational purposes only and does not constitute investment advice.

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