European IPO activity is surging at the start of 2026, with bankers fielding an 'intense' wave of pitches from companies in defence, tech, and the wider economy. This marks a notable shift from the recent lull, suggesting renewed investor appetite and a potential revival for the region's public listings market.

The pipeline includes firms from sectors previously cautious about going public. A robust IPO calendar could signal returning confidence, allowing companies to tap equity markets for expansion and offering investors fresh opportunities. This trend follows a period of subdued activity due to macroeconomic uncertainty and valuation gaps.

Bankers are now busy preparing prospectuses and roadshows. The key test will be whether these debuts achieve strong pricing and post-listing performance. Success could encourage more companies to follow suit, solidifying the nascent recovery.