With 375 companies raising almost €50bn in Europe, 2014 saw a bumper crop of companies coming to market.
2014 proceeds of €49.5bn raised were nearly double that raised in 2013 – and such levels of activity have not been seen since 2007, pre financial crisis.
Mark Hughes, capital markets partner, PwC said:
“Typically the start of the first quarter is muted but we have seen over €10billion raised in Europe already. I expect that we will witness an increase in cross-border listings in Europe and into the US as well as continued PE backed IPOs. As more companies run with a dual track process, we may see some IPO processes thwarted and instead ending with a sale - although overall we continue to be cautiously optimistic about the 2015 pipeline.”
|Top five IPOs|
|5 largest IPOs of Q3 2014||€m (excl. greenshoe)||€m (incl. greenshoe)||Sector||Market||Country of origin||PE backed|
|Pershing Square||2,150||2,165||Financials||Euronext Amsterdam||United States||No|
|AA||1,733||1,733||Consumer Services||London||United Kingdom||Yes|
|NN Group||1,540||1,771||Financials||Euronext Amsterdam||Netherlands||No|
|Rocket Internet||1,400||1,404||Financials||Deutsche Börse||Germany||No|
|B&M European Value Retail||1,336||1,456||Consumer Services||London||United Kingdom||Yes|
Sources: IPO Watch Europe 2014