European IPO values slump
THE amount of money raised in European IPOs fell 53pc year-on-year in the third quarter. PwC’s latest IPO Watch Europe report said €3.9bn was raised, with a lack of so-called mega
IPOs spurring the fall. SIG Combibloc Group on the SIX Swiss exchange was the only listing larger than €1bn at €1.7bn. This was the secondlargest IPO of 2018, behind Siemens Healthineers in the first quarter which raised €3.7bn.
“Geopolitical headwinds and the summer hiatus muted activity in Q3, with European IPO values at their lowest levels for two years. However, the pipeline going into Q4 looks relatively healthy as volatility continues to be low and there a number of megaIPOs expected, said Denis O’Connor of PwC Ireland.