European IPOs Rivaling 2014-15 Numbers


Europe Priced IPOs 2Q2017

The number of European IPOs increased by 25 percent from 128 in the first half of 2016 to 160 in the first half of 2017 and rivaled the highs of the first half of 2015 (155 IPOs) and the first half of 2014 (172 IPOs), according to Bloomberg Terminal data.

The dollar amount raised increased by 74 percent from $17.37 billion in the first half of 2016 to $30.24 billion in the first half of 2017, but lagged significantly behind the highs of $39.9 billion in the first half of 2015 and $51.79 billion in the first half of 2014.

The average first half deal size declined from$301 million in 2014, to $257 million in 2015, to $136 million in 2016, but jumped to $189 million in 2017.

The three largest Europeans IPOs of the first half of 2017 were by: 

  • Allied Irish Banks PLC (priced on June 23, raised $3.837 billion);
  • Galenica AG (priced on April 4, raised $1.885 billion); and
  • ALD SA (priced on June 15, raised $1.274 billion).

European IPOs by Month

The second quarter of 2017 has seen a significant increase in the number of deals with 22, 36, and 40 IPOs pricing in April, May, and June, respectively.

Europe IPOs Month 2Q2017

The number of deals jumped from 62 IPOs in the first quarter of 2017 to 98 IPOs in the second quarter of the year.  The dollar amount of funds raised almost quadrupled from $5.99 billion in the first quarter to $24.25 billion in the second quarter.

June outperformed all the other months by deal count (40 IPOs) and dollar value raised ($14.93 billion). Allied Irish Banks PLC, the largest IPO of the year, helped to contribute to that value by pricing on June 23 and raising $3.84 billion.

For more on the latest trends in European IPOs, Bloomberg Law subscribers can access our Quarterly IPO Market Update - Europe.