After Europe’s slowest year for IPOs in a decade, we’re seeing signs that the region will re-open in 2023.
Europe’s IPO market had a historically quiet 2022, as the region raised the lowest proceeds since 2012, when it was still reeling from the sovereign debt crisis. Last year, the conflict between Russia and Ukraine, heightened inflation, and a broad decline in equity markets caused new issuance to grind to a halt, as sizable ($100mm+) European listings raised $16 billion. Excluding cross-listings from China and Taiwan, there were only 13 sizable European IPOs raising a combined $12 billion, the majority of which (68%) was from Porsche’s mega-IPO...
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