Medical supplies giant Medline said on Monday it was targeting an up to $55.3 billion valuation in its hotly anticipated U.S. initial public offering that is expected to be 2025’s biggest IPO. The Northfield, Illinois-based company is seeking to raise up to $5.37 billion by offering 179 million shares priced between $26 and $30 apiece. With the Thanksgiving slowdown behind, the U.S. IPO market is poised for a burst of activity in the next fortnight as companies rush to seize the final 2025 window before the holiday lull kicks in.
“Large deals tend to have an outsized impact on IPO investor sentiment. This will certainly be an influential deal, and set the tone for the end of the year and heading into 2026,” said Matt Kennedy, senior strategist at Renaissance Capital, a provider of IPO-focused research and ETFs. “Everyone involved will want to end the year on a high note, but I wouldn’t call it crucial to the broader new listings market. The expected 2026 uptick is more resilient than that.”
