Nasdaq and NYSE compete for all big IPOs, using inducements such as expensive marketing and advertising packages, fancy coming-out parties and opening- and closing-bell ringing privileges. To woo Arm, likely to be the biggest IPO of the year, Nasdaq promised the British company a package valued at $50 million, according to people familiar with the matter.  The IPO market has been in a prolonged slump, with companies raising the least amount of money in 2022 through traditional IPOs in at least two decades. Early 2023 was also slow, with companies and investors steering clear of IPOs, in part because of higher interest rates and inflation that have made other investments more attractive.

https://www.wsj.com/articles/nyse-nasdaq-battle-for-new-listings-in-sign-of-ipo-awakening-bb25b8f8?st=hnlzz3cw2sb2rw6