KUALA LUMPUR, Dec 16 (Bernama) -- Bursa Malaysia extended its positive performance, closing higher for a fourth consecutive session, supported by improving local market sentiment underpinned by a firm domestic macroeconomic backdrop. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.59 points, or 0.28 per cent, to 1,648.31, from Monday’s close of 1,643.72. The index had opened 0.95 of a point lower at 1,642.77, and moved between 1,636.50 and 1,648.71 throughout the trading session However, on the broader market, decliners beat gainers 699 versus 408. A further 520 counters were unchanged, 1,149 untraded and 12 suspended. Turnover rose to 2.59 billion units worth RM2.27 billion from 2.50 billion units worth RM2.16 billion on Monday.
U.S. IPO Market Reignites After Three-Year Lull, Fueled by AI, Crypto, and Policy Clarity
The U.S. IPO market is roaring back in 2025 after nearly three years of subdued activity, with 59 companies raising US$15.02 billion in Q2, up from 45 listings raising US$11.23 billion in Q1, according to S&P Global Market Intelligence.
The rebound is driven by the nearing end of the high-interest-rate cycle, surging AI adoption, clearer stablecoin regulations, and fading investor fatigue over tariffs — all setting the stage for a new wave of high-growth listings.
Four Standout IPOs of 2025
1. Circle (CRCL.US) – Crypto Meets Wall Street
As the issuer of USDC, the world’s second-largest stablecoin, Circle became the first U.S.-listed company built around stablecoin operations. Shares surged +168% on debut and are now +422%, marking a milestone for crypto’s integration into mainstream finance.
2. CoreWeave (CRWV.US) – From Crypto Mining to AI Infrastructure
Once Ethereum miners, CoreWeave now powers AI leaders like OpenAI and Meta with NVIDIA GPU-driven infrastructure. Despite a flat debut in March, the stock has gained +176%, with Q2 earnings in focus for GPU utilization and client concentration risks.
3. Figma (FIG.US) – Design Collaboration Disruptor
After Adobe’s failed US$20 billion takeover, Figma listed independently, soaring +250% on IPO day and +174% since. 2024 revenue hit US$749 million (+48% YoY) with a 91% gross margin, cementing its status as a SaaS leader.
4. Karman Holdings (KRMN.US) – Betting on Space and Defense
Specializing in spacecraft and missile systems, Karman rose +37% on debut and is now +121%. Growth is backed by the rising U.S. defense budget and upcoming satellite launches by ULA, Starlink, and Blue Origin.
August IPO Outlook
Investor sentiment remains bullish, with tech earnings and AI momentum providing valuation support. Analysts expect more unicorns to list in late Q3, with August already lined up for multiple debuts across sectors.
“Deals like Figma are setting the stage for a wider reopening of the IPO window,” said Matt Kennedy of Renaissance Capital. “The U.S. IPO market is in good shape.”
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