IPO Watch Q4 2009
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January 2010
A distinct upturn in IPO activity across Europe was seen in the fourth quarter (October to December) of 2009, with both value and volume rising markedly over the previous quarter with 61 companies listing on European exchanges, a 39% increase on the 44 IPOs in the third quarter of 2009.
A total of 4,994m Euros was raised in Q409 which was over four times as much as the previous quarter which saw 1,375m Euros raised. The largest two IPOs were PGE Polska Grupa Energetyczna which raised 1,407m Euros on the Warsaw Stock Exchange and Delta Lloyd NV which raised 1,016m Euros on NYSE Euronext.
Looking to the future it is difficult to make firm predictions against what remains a fragile economic background, but with investor sentiment appearing to improve, we continue to believe that there will be a substantial pick-up in IPO activity in the first half of 2010, barring any major unexpected financial shocks. It should be noted that pricing pressure currently remains strong as institutional investors look to strike a hard bargain.
- Amy Benning
- Tel: +44 (0)20 780 45668
- Tom Troubridge
-
Tom Troubridge
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- Tel: +44 (0)20 7804 4723
