German IPO Market Set for Uptick in 2026 with AI Focus Amid Investor Skepticism

In 2026, Germany is poised to witness a noticeable increase in initial public offerings (IPOs), reversing the low activity seen in 2025 when only seven companies went public despite a global trend of 1,260 IPOs. Market experts like Martin Steinbach from Ernst & Young (EY) highlight favorable conditions this year, citing rising stock prices and low interest rates that have encouraged companies long reluctant to list publicly to reconsider their stance.

Among the early announced IPO candidates are Asta Energy Solutions and Bitpanda, with TK Elevator also planning a public offering. These developments suggest renewed momentum in Germany's capital markets, although skepticism remains prevalent. Some firms, including Stada and Brainlab, recently withdrew IPO plans, reflecting concerns about transparency requirements and an unwillingness from venture capitalists to invest in smaller companies with low trading volumes.

A key trend capturing investor interest in 2026 is artificial intelligence (AI). Companies integrating AI technologies are attracting significant attention, underlining the strategic importance of innovation in the current market environment. Nevertheless, larger corporations such as SpaceX and OpenAI prefer listing on New York exchanges over Germany, indicating competitive dynamics in global IPO destinations.

The cautious attitude toward IPOs is compounded by regulatory challenges, notably the EU's stringent AI regulations and technical standards coming into effect. While these rules aim to ensure AI safety and compliance—mandating workforce competence and adherence to security standards like EN 304 223—they add layers of complexity and risk that may weigh on companies considering public offerings.

Overall, while Germany’s IPO market in 2026 appears set for growth supported by improved market conditions and innovation drivers like AI, companies and investors remain watchful of transparency demands and regulatory pressures that could temper enthusiasm for new listings.