European IPOs have raised €14.7bn in Q4 2013, eclipsing the €3,0bn generated in Q3 2013 and the €7.6bn raised in Q4 2012, according to PwC’s tracker of IPO activity.
The proceeds raised in the fourth quarter - 56% of the 2013 total - made Q4 2013 the most successful quarter since Q4 2007.
With 41 IPOs raising €8.6bn, London accounted for almost 60% of total European IPO proceeds raised during Q4. Across the rest of Europe, the French market had its busiest quarter in years with 8 IPOs raising €1.2bn. Switzerland hosted its largest IPO since 2008.
Private equity and privatisation IPOs drove activity this quarter with PE-backed companies raising €5.4bn and privatisations raising €3.8bn.
|Top five IPOs|
|Five largest IPOs of Q4 2013||€m raised||Sector||Market||Operations|
|Royal Mail||2,032||Industrial Goods & Services||London||UK|
|Merlin Entertainments||1,141||Travel & Leisure||London||UK|
|Riverstone Energy||897||Investment Company||London||USA|
|TCS Group Holding||797||Banks||London||Russia|
|Cembra Money Bank||745||Banks||SIX Swiss||Switzerland|
Sources: PwC Q4 2013 IPO Watch Europe Survey