IPO proceeds increase from first half of 2017
European initial public offering proceeds for the first half of 2018 increased compared with the same period last year, says a report published today.
Pwc’s IPO Watch report showed European stock market launches ended H1 with total proceeds of €21.8 billion (£19.3bn), an increase of 5 per cent from the first half of 2017.
It attributed this to a strong first quarter of 2018, as money raised from IPOS in Q2 decreased by 43 per cent com- pared with Q2 2017. The technology sector dominated UK listings, raising 40 per cent of IPO money for Q2 this year.
Mark Hughes, capital markets partner at PWC, said: “Despite a more subdued second quarter, and the current economic and political outlook, the market is open and deals are being done.
“Pricing will likely remain a challenge and investors are increasingly selective.
“That said, we expect to see the volume of IPO activity picking up again in the second half of the year.”