The number of Europe’s 236 announced initial public offerings last year was down by 22 percent from 2015 (301 announced IPOs) and 2014 (302 announced IPOs), according to Bloomberg Law data.
Similarly, at $35.71 billion, the announced deal value for 2016 IPOs was the lowest since 2012, when the announced deal value was $18.05 billion. Deal value in 2016 dropped by 56 percent from 2015 ($80.56 billion) and 2014 ($80.41 billion), not promising an uptick in European IPOs in 2017.
The top two months by deal count for European IPOs last year were May (35) and June (29), ahead of the June 23 Brexit vote. Not surprisingly, July (14) and August (6) saw a steep drop off after the U.K. vote to leave the European Union. In fact, August was the slowest month all year, with only 6 IPOs raising a combined $62.01 million.
The market recovered in October, with 26 IPOs, raising a combined $9.07 billion.
The London Stock Exchange was the most popular listing venue in 2016, with 63 listings. The largest listing on that exchange was in October—the ConvaTec Group, with $2 billion raised.
The largest IPO of the year was also in October—Innogy SE IPO ($5.2 billion raised). Innogy listed in Frankfurt on the Xetra electronic trading venue. The second and third largest IPOs of the year—DONG Energy A/S ($3 billion raised) and Nets A/S ($2.4 billion raised)—were both listed on the Copenhagen Stock Exchange.
For more on the latest trends in European IPOs, Bloomberg Law subscribers can access the European Quarterly IPO Market Update.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to firstname.lastname@example.org.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to email@example.com.
Put me on standing order
Notify me when new releases are available (no standing order will be created)