There were 94 floats completed in Europe during the first quarter of 2011, raising just under €3bn but 129 IPOs in Q4 2010 generated more than €10bn.
Against a backdrop of continuing political and economic upheaval, pockets of optimism are returning to the market mainly from Russian issuers. However, jittery companies are still deciding whether to shelve their IPO plans or continue to forge ahead in stormy market conditions.
London hosted the lion’s share of IPOs, but future activity across the entire region remains uncertain. In London, there is also the further complication of an extended break between Easter and the Royal Wedding prolonging the slump in activity.