The European IPO market suffered a tough fourth quarter, ending a challenging year for IPOs across the region. In Q4 2011, 78 IPOs raised just 866 million euros ($1.15 billion), an 81% decrease from the third quarter and down 83% year on year, according to PricewaterhouseCoopers‘s IPO Watch Europe. Companies based in London dominated, raising 800 million euros, 92% of total Q4 European IPO value.
Despite a weak second half, European IPOs raised 26.5 billion euros for all of 2011, in line with the prior year. Volumes increased by 13% to 430 IPOs. London generated 14.6 billion euros, more than half of capital raised, despite only housing a quarter of the IPO deals across Europe, according to PwC.
PwC looked at all new primary market equity IPOs on Europe’s principal stock markets and market segments, including exchanges in Austria, Belgium, Denmark, France, Germany, Greece, Holland, Ireland, Italy, Luxembourg, Norway, Poland, Portugal, Spain, Sweden, Switzerland and the U.K. Figures for private equity-backed IPOs were not revealed in the report.
According to Thomson Reuters (publisher of peHUB), eight European PE-backed IPOs raised $3.7 billion last year, with most of the action occurring in the first half. (Just one PE-backed company, Nordwind Capital’s German automotive supplier SHW, went public in the second half of the year, raising $98.2 million in July.) Of the eight IPOs, three went public on the Frankfurt Stock Exchange, two went out on the Warsaw Stock Exchange, one on the NYSE, one on the Nasdaq and one on the HKSE.
Here are the eight IPOs, ranked from smallest to largest. (All amounts are in U.S. dollars.)
Image credit: Euro concept photo courtesy of Shutterstock
[slideshow]
[slide title=”LeadMedia Group”]
Nation: France
IPO Date: June 2011
Amount Raised: $14.51 million
Exchange: NYSE Alternext
Business Description: Media and entertainment
PE Backer: Truffle Capital
[slide title=”Libet SA”]
Nation: Poland
IPO Date: April 2011
Amount Raised: $47.33 million
Exchange: Warsaw Stock Exchange
Business Description: Paving business
PE Backer: Innova Capital
Date of investment: 2010
[slide title=”Dom Maklerski TMS Brokers”]
Nation: Poland
IPO Date: January 2011
Amount Raised: $74.28 million
Exchange: Warsaw Stock Exchange
Business Description: Licensed FX brokerage house
PE Backer: 3TS Capital Partners
Date of Investment: 2007
[slide title=”SHW”]
Nation: Germany
IPO Date: July 2011
Amount Raised: $98.21 million
Exchange: Frankfurt Stock Exchange
Business Description: Automotive supplier
PE backer: Nordwind Capital
Date of Investment: 2005
[slide title=”Adler Modemaerkte”]
Nation: Germany
IPO Date: June 2011
Amount raised: $159.70 million
Exchange: Frankfurt Stock Exchange
Business Description: Fashion retailer
PE Backer: BluO
Date of investment: 2009
[slide title=”Tornier NV”]
Nation: The Netherlands
IPO Date: February 2011
Amount Raised: $179.95 million
Exchange: Nasdaq
Business Description:Â Medical device maker
PE Backers: Warburg Pincus; The Vertical Group
Date of investment: 2006
[slide title=”Norma Group”]
Nation: Germany
IPO Date: April 2011
Amount Raised: $480.76 million
Exchange: Frankfurt Stock Exchange
Business Description: Technology company
PE Backer: 3i
[slide title=”Samsonite International”]
Nation: U.K.
IPO Date: June 2011
Amount Raised: $1.30 billion
Exchange: Hong Kong Stock Exchange
Business Description: Luggage maker
PE Backer: CVC Capital Partners
Date of investment: 2007
[/slideshow]
If you do not receive this within five minutes, please try and sign in again. If the problem persists, please
email: subscriptions@peimedia.com.