In 2025, "IPOs" via shell companies/SPACs (Special Purpose Acquisition Companies) significantly outnumbered traditional Initial Public Offerings (IPOs).
As a leading provider of shell companies in the German-speaking region, INSTANT IPO SE agrees with current market analyses that the number of "IPOs" via shell companies/SPACs has significantly exceeded that of traditional IPOs in 2025.
Last year, 63 percent of new stock market entrants worldwide chose the path to the stock exchange via shell company/SPAC transactions. This is the conclusion of an evaluation of current market data by SPAC Analytics. In this context, 39% of the proceeds generated by IPOs in 2025 are already attributable to SPAC transactions.
The figures show that the trend towards shell companies/SPACs has increased significantly. In addition to the USA, the largest market for shell companies/SPACs in Europe can be found primarily in Germany.
Companies are increasingly choosing the fast track to the stock exchange via the turbo IPO: the shell company/SPAC. The shell company, once a niche product and previously mostly in high demand in waves during volatile market phases, has matured over the years into a marketable instrument and an established entity.
Especially for small, medium-sized, and growth-oriented companies, shell companies/SPACs have the potential to permanently outrank traditional IPOs.
The disadvantage of traditional IPOs becomes particularly evident in a challenging market environment. The year 2025 in particular showed that companies frequently postponed their traditional IPOs due to valuation discounts, long preparation times, and overly cautious investor sentiment regarding momentum. "IPOs" via existing shell companies, on the other hand, proved to be a significantly more flexible, efficient, and stable way to go public. In particular, faster implementation, lower transaction risks, and a more market-oriented valuation often led to above-average price and liquidity performance after the market debut.
As a result, shell companies enable companies to have structured, predictable, and capital market-oriented access to the stock exchange at any market phase and, unlike IPOs, represent the optimal instrument even in volatile or high-interest phases.
Given the increasing capital market activity, INSTANT IPO SE expects that "IPOs" via shell companies will continue to play a central role in the future. The strong performance compared to traditional IPOs underscores the potential of shell companies. As the market-leading provider of shell companies in the German-speaking region, this sustainably consolidates the strategic focus of INSTANT IPO SE.
INSTANT IPO SE has the largest and highest-quality platform of listed shell companies in the German-speaking region and supports companies throughout the entire process – from the selection of the suitable shell company to the transaction and positioning on the capital market.