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This is the point where 'private' becomes 'public'. It gives the market its first real look under the hood of companies like OpenAI, SpaceX and a new wave of ASX hopefuls.
An initial public offering (IPO) is when a private company offers its shares to the public for the first time. Before an IPO, shares are usually held only by founders, early employees and private investors but going public opens those shares to a broader market.
For traders, IPOs may be the first opportunity to gain direct exposure to a company's stock. They can create a unique environment of elevated volatility and heightened interest, but they also carry higher risk because price history is limited and sentiment can shift quickly.
| Company | Estimated valuation | Exchange | Status |
|---|---|---|---|
Anthropic Artificial intelligence | ~US$350 billion | Nasdaq | Rumoured |
Databricks AI and data | ~US$134 billion | Nasdaq | Expected |
Firmus Technologies AI infrastructure | ~A$6 billion | ASX | Expected |
Greencross Pet care & veterinary | ~A$4 billion plus | ASX | Rumoured |
OpenAI Artificial intelligence | ~US$850 billion | Nasdaq | Expected |
Rokt E-commerce adtech | ~US$7.9 billion | Nasdaq and ASX CDI | Expected |
SpaceX Aerospace and AI | ~US$1.5 trillion | Nasdaq | Expected |
Stripe Fintech | ~US$140 billion | NYSE/Nasdaq | Rumoured |
How a listing works
By listing day, institutional investors have usually already assessed the company. Understanding the six-stage process helps traders see what may already be reflected in the price before the stock opens to the broader market.
The company selects an underwriter to assess its finances, corporate structure and market positioning.
Underwriters conduct due diligence and lodge disclosure documents with the relevant regulator.
Executives pitch to institutional investors and analysts. This is where demand is built and price expectations are set, before retail traders ever see the stock.
Based on roadshow feedback, underwriters set the final share price and decide how many shares will be issued.
Shares begin trading on the chosen exchange. For most traders, this is the first chance to trade the stock.
Now public, the company must publish financial results regularly and meet the governance standards of its exchange.
Trading IPOs with CFDs
IPO listing day is often defined by large sentiment swings and thin price history. That combination can make traditional buy-and-hold exposure harder to manage. CFDs let traders take a view on either side of the move, size positions precisely and act quickly as the story develops.
Trade the initial surge or the post-hype correction. CFDs let you take a position in either direction from listing day onward.
IPO volatility tends to compress into the first days and weeks. CFDs are well suited to these shorter, event-driven windows
Stop loss and limit orders can help define your risk beforeentry, which matters when price discovery is still unfolding.
Access share CFDs across US and Australian markets, including names like Rokt and Firmus Technologies, from one account.
Access US and Australian share CFDs with fast execution, competitive pricing, and built-in risk management tools.
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References to companies, IPO candidates, valuations, exchanges, sectors and markets are illustrative only, based on publicly available information at the time of publication, and may change without notice. A proposed listing may be delayed, amended or cancelled, and inclusion on this page does not imply that a company will list, or that any share or CFD will be available to trade through GO Markets.