The upward trend in European IPOs by volume and value that we reported in 2005 continued into 2006, with the number of IPOs increasing by 9% from 598 in 2005 to 653 in 2006, and offering value increasing by 27% from EUR51.6bn to EUR65.4bn. The relatively higher growth in offering value than in volume of IPOs was underpinned by the international activity on the European markets, ie non-European companies listing on European capital markets.
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