Strong growth in European IPO values at end of 2010

LISTING VALUES in the last quarter of the year quadrupled over the previous three months, offering hope for a strong 2011, according to PwC.

In its IPO Watch Europe survey, PwC reported that European exchanges attracted just over €10bn (£8.3bn) of IPOs in the fourth quarter of 2010, compared with €2.5bn in Q3.

London was responsible for the largest share of the fourth quarter figure, generating €3.6bn from initial listings, up from €1.7bn in Q3. Its largest float was Group, which generated €669m, but the largets in Europe was the dual Italian-Spanish listing of Enel Green Power, raising €2.3bn.

“Barring any unexpected financial or political shocks, the momentum built in the fourth quarter of 2010 should continue into 2011 for Europe’s IPO markets,” said PwC’s head of capital markets Tom Troubridge. “Privatisations will feature in 2011 as European governments take steps to reduce their levels of borrowing.”


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