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Nasdaq CEO says IPO demand boosted despite tariff worries, banks on Texas boom
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Nasdaq CEO says IPO demand boosted despite tariff worries, banks on Texas boom
Jun 5, 2025 1:11 PM

June 5 (Reuters) - Exchange operator Nasdaq is

holding active talks with companies considering stock market

debuts, CEO Adena Friedman said on Thursday, underscoring the

U.S. economy's resilience and signaling renewed market vigor.

Several high-profile companies, including those in

risk-heavy sectors such as crypto and financial technology, have

successfully launched listings in recent weeks, pointing to

pent-up demand and improving market conditions.

At the Piper Sandler Global Exchange & Trading Conference,

Friedman said the foundation of the U.S. economy remained strong

and its resilience continued to support market activity.

"People are continuing to put capital to work. Companies are

putting capital to work. They're investing and the capital

markets have gone through a lot of volatility, but that's also

starting to kind of moderate," Friedman said, adding that there

was more opportunity for the IPO window to really open up now.

Still, some firms exposed to trade policy uncertainty were

adopting a cautious approach and holding off until there is

greater clarity.

"Sectors that are more impacted by the potential tariff

environment, it's going to be harder for investors to predict

the future of those companies... I think those companies are

taking a little bit more of a wait-and-see approach," Friedman

said.

Listings on the Nasdaq and rival Intercontinental Exchange

have been closely watched as a barometer for renewed risk

appetite and investor sentiment following a years-long slowdown

in new listings.

NYSE President Lynn Martin also said earlier on Thursday

that public markets were ready for well-prepared companies even

amid tariff concerns.

ALL EYES ON TEXAS

Friedman highlighted Texas as an emerging capital markets

hub, praising the state's pro-business environment and growth

potential.

"It's a growth area for us," she said, adding that the state

has a pro-business environment and companies are increasingly

moving their headquarters to or establishing themselves in

Texas.

Elon Musk-led Tesla and SpaceX, as well as tech

giants Oracle and Hewlett Packard Enterprise ( HPE ),

have moved to the Lone Star State in recent years, attracted by

a favorable tax climate, lower living costs and reduced energy

costs.

In March, Nasdaq had said it would open a regional

headquarters in Texas, deepening its presence in a state that is

fast emerging as a major financial hub rivaling New York.

A foothold in Texas could enhance the exchange's reach among

the state's leading industries, including energy and

manufacturing.

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