The value of the IPOs launched on the European capital markets fell by 47 percent in H1, says PwC

The value of the IPOs launched on the European capital markets fell by 47 percent in H1 2019, compared to the same period of last year, to 12 billion Euro, according to PwC IPO Watch Europe Q2 2019 report.

The same trend was record by the number of IPOs, where the decline was 43.8 percent to 53 transactions, while the average value of a transaction fell by 20 percent to 181 million Euro.

“After an apathetic first quarter, the European market saw a recovery in the second quarter when, although with fewer transactions, the value was significantly higher, with the first five IPOs cumulating 7.4 billion Euro. In the context of Brexit and global uncertainties caused mainly by trade talks, Europe is facing a decline in investors’ interest that probably won’t change significantly this year so as to recover the declines in the first half of this year “, said Sorin Petre, Partner of PwC Romania.

Financials continued to rank first in the IPOs market, accounting for 43 percent of H1 2019 values (5.18 billion Euro), followed by industry, with 25 percent (4.39 billion Euro) and consumer services, with 19 percent (2.26 billion Euro).

Unfortunately, the Bucharest Stock Exchange failed to attract any IPO in the first six months of this year. Europe’s top stock market in the first half, in value, was the London Stock Exchange – 16 IPOs, worth EUR 5.1 billion, the Borsa Italiana – 9 IPO worth EUR 2.1 billion, the Swiss Exchange – 3 IPO, with a value of EUR 2 billion.

The largest IPOs in Europe in H1 were Nexi SpA (Borsa de Italia) – EUR 2.05 billion, Network International Holdings (LSE) – EUR 1.41 billion and Stadler Rail AG (SIX Swiss Exchange) – EUR 1.35 billion.

The value of the global IPOs market fell by 28 percent in H1 compared to the same period last year to USD 82.8 billion.

The study included the main 14 capital markets in Europe, namely Great Britain, France, Turkey, Poland, Spain, Belgium, Switzerland, Italy, Austria, Germany, Denmark, Sweden, Norway and Finland.