This edition of the Bermuda Public Companies Update summarises significant transactions involving Bermuda companies listed on the New York Stock Exchange (NYSE) and Nasdaq in the first half of 2026.
The first half of 2026 delivered a striking paradox: M&A activity surged to a five year high, yet IPO markets remained among the most selective in years. Global issuance declined in Q1 2026 to its lowest level since 2020, as issuers delayed transactions amid market volatility. This divergence reflected a capital markets environment where well-capitalised acquirers moved decisively while public offerings gravitated toward larger companies in sectors aligned with transformative themes such as AI, infrastructure and defence. Volatility linked to geopolitical uncertainty continued to weigh on sentiment, but strong fundamentals and significant capital reserves kept transaction momentum intact.