IPO Watch Europe: Review of the year 2005

March 2006

This annual review collates and builds on the findings of our quarterly surveys, which track the volume and value of IPOs on Europe's main stock exchanges.

Compiled by our London Capital Markets Group, the report includes breakdowns of IPO activity by sector and analysis from sector experts, comments from the European stock exchanges and a detailed comparison of IPO activity in the US and China. It also includes commentary on the impact of the new regulations on the markets.

Highlights in the 2005 review show that it has been a record year for European IPO activity:

• Despite concerns over the introduction of new European capital markets regulation the number of IPOs increased by 39% in 2005
  
• New money raised in 2005 of €51bn is almost double the amount raised in the previous year, mostly driven by large French privatisations on Euronext and substantial international activity on the European markets
  
• Europe raised more new money and attracted more international IPOs than the US exchanges.