IPO Watch Report Q1 2009

Last ned IPO Watch Report Q1 2009 (77 kb)

European IPO markets suffer their worst ever quarter

Europe’s Initial Public Offering (IPO) market has suffered its worst ever quarter with 18 listings in the three months up to 31 March raising just €9m, reflecting the continued worldwide loss of confidence in the capital markets, according to PricewaterhouseCoopers latest IPO Watch Europe survey.

The survey, which tracks the volume and value of IPOs around Europe, shows that volumes and values were massively down on the first quarter of 2008 which saw 72 IPOs raise €1,942m and even on the disappointing last quarter of 2008 when 64 IPOs still raised €1,238m.

The total money raised in Europe was less than 1% of the figure recorded in the first quarter of 2008. Only 11 of the 18 IPOs that made it to market raised any money. The average amount raised was less than €1m compared with €34m in the same period a year ago.

About IPO Watch Europe
IPO Watch Europe surveys all new primary market equity IPOs on Europe’s principal stock markets and market segments (including exchanges in Austria, Belgium, Denmark, France, Germany, Greece, Holland, Ireland, Italy, Luxembourg, Norway, Poland, Portugal, Spain, Sweden, Switzerland and the UK) on a quarterly basis. Movements between markets on the same exchange and greenshoe offerings are excluded. This survey was conducted between 1 January and 31 March 2009 and captures new market IPOs based on their transaction date. All market data is sourced from the stock markets themselves and has not been independently verified by PricewaterhouseCoopers LLP.