In a surprising turn of events, the biggest IPO of 2025 belongs to medical supply company Medline, not a tech giant. Shares soared 40% in their Nasdaq debut, closing at $40 after being priced at $29. The successful IPO market rebound includes firms like Circle, Klarna, and CoreWeave, with potential blockbusters from firms like OpenAI and SpaceX in 2026. Private equity firms Blackstone, Carlyle Group, and Hellman & Friedman doubled their $17 billion equity stake in Medline through a $6.3 billion IPO. The slow flow of private equity-backed IPOs in 2025 may pick up in 2026 with major firms like Copeland, Visma, and Jio Platforms. Medline’s success is attributed to its profitable, cash-generative nature in contrast to high-flying tech IPOs. CEO Jim Boyle highlighted the company’s focus on affordable products.

Read more at Yahoo Finance: Medline Surges After Year’s Most Valuable IPO