The increase in money raised in Europe was largely driven by two factors. Firstly, Euronext saw a number of large French privatisations led by Electricité de France (which raised 7.0bn euro and was the largest IPO in Europe since our survey started) and Gaz de France (which raised 3.5bn euro). Secondly, there was substantial international activity on the European markets with international IPOs raising 9.6bn euro, accounting for 19% of total money raised in Europe. As a result, for the first time since the launch of PricewaterhouseCoopers IPO Watch survey in 2001, Europe raised more new money from IPOs than the US and also attracted more international IPOs than the US exchanges.
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