IPO Watch Europe Q 0
IPO Watch Europe Q 0
Figure : Quarterly European IPO activity by value and volume H 0 Q 0 Q 0 H 0 Total European listings comprise those with: Less than m raised Greater than m raised 0 Total number of listings 0 0,0,0 0,,0 Exercised greenshoe ( m), 0 Total money raised ( m),,,0, 0 Money raised excl. greenshoe ( m) Average offering value ( m)* Figure : Top stock exchanges in Europe in 0 (by offering value) Euronext BME IPOs raised* IPOs raised* IPOs raised* Average IPO proceeds** Average IPO proceeds** Average IPO proceeds** OMX Figure : Top stock exchanges in Europe in Q 0 (by offering value) Largest IPO: Largest IPO:,0m (,m incl. greenshoe) 00m (no greenshoe),0m (no greenshoe) OMX IPO Watch Europe Q 0 Largest IPO: London IPOs raised* IPOs raised* Average IPO proceeds** Average IPO proceeds** Largest IPO: Largest IPO:,0m (,m incl. greenshoe) m ( m incl. greenshoe) Euronext IPOs raised* Average IPO proceeds** Largest IPO:,0m (no greenshoe)
Figure : H European IPO activity since 00* 0 0 0 00 Value of IPOs ( bn) 0 0 0 0 0 00 0. 00 0 00. Volume of IPOs 0...... H 00 H 0 H 0 H 0 H 0.. 0 H 00 H 00 H 00 H 0 H 0 IPOs Value bn Figure : Quarterly European IPO activity since 0 0 Value of IPOs ( bn) 0 0 0 0 0 00 0 0 0 0 Volume of IPOs 0 0...0.......... 0. Q Q Q Q Q Q Q Q Q Q Q Q Q Q 0 0 Value bn 0 Greenshoe bn 0 IPOs IPO Watch Europe Q 0
Figure : Volatility compared to IPO proceeds bn+ IPOs of Worldpay, Poste Italiane, Covestro and Scout bn+ IPOs of Amundi and ABN AMRO EU referendum in the UK 0 0 0 0 0 Falling oil prices, Chinese economy slowdown and threat of impending bear market China stock market turmoil VSTOXX index Money raised bn IPO of Deutsche Pfandbriefbank, Euskaltel and Flow Traders bn+ IPOs of Sunrise, Aena and GrandVision 0 0 0 Jan Feb Mar Apr Money raised bn May Jun Jul 0 Aug Sep Oct Nov Dec Jan Feb Mar Apr 0 May Jun VSTOXX index Figure : Historical performance of major market indices since January 0 % change since Jan 0 0% 0% 0% 0% DAX 0 CAC 0 0% FTSE 00 0% 0% JanJanFebFebMarMarApr AprMayMayJunJunJul JulAugAugSepSepOct OctNovNovDec DecJan JanFebFebMar MarApr Apr May May Jun Jun 0 0 IPO Watch Europe Q 0
Figure : Top IPOs in Q 0 Dong Energy a.s.r. Philips Lighting MONETA Money Bank Parques Reunidos Exchange OMX Copenhagen Euronext Amsterdam Euronext Amsterdam Prague Stock Exchange BME IPO date June 0 June May May April Money raised ( m) incl. greenshoe,,0 00 Price range DKR00 DKR.00.00.0.0 CK.00 CK.00.0 0.0 Offer price DKR.0 0.00 CK.00.0 Figure : Offer price versus initial price range of top IPOs Figure : Performance of top IPOs 0%.%.% 0%.% 0% 0.%.0% 0%.%.% 0% Offer price.% 0.% 0%.% 0% Dong Energy a.s.r. Offer price Philips Lighting MONETA Money Bank Price range Parques Reunidos Dong Energy a.s.r. Philips Lighting MONETA Money Bank Parques Reunidos Share performance from IPO to 0 Jun 0 (%) Domestic index performance from IPO to 0 Jun 0 (%) IPO Watch Europe Q 0
Figure 0: IPO value by sector* By offering value ( m) H 0 Q 0 Q 0 H 0 Variance vs H 0,,,, (,) Consumer Services,,, (,) 0,,, Industrials,,, (,) Consumer Goods,0,0 (0) Health Care, 0 (,) Technology, (,0) Oil & Gas Basic Materials,0 0 0 (,0),0,0 0,,0 (,0) Utilities Telecommunications Total IPO Watch Europe Q 0 Utilities Consumer Services IPOs raised in Q 0 IPO raised in Q 0 IPOs raised in Q 0 Average IPO proceeds** no meaningful average Average IPO proceeds** Largest IPO: Largest IPO: Largest IPO: (no greenshoe (,m incl. greenshoe) (no greenshoe)
Figure : London IPO trends (by offering value)*.bn.0bn.bn.bn 0.. 0. 0. 0. 0.0. 0. 0..0 0 0. 0 Volume of IPOs Value of IPOs ( bn) 0 Figure : London IPO trends (by volume) 0..... 0... 0.0 0. 0... 0. Q Q Q Q Q Q Q Q Q Q Q Q Q Q 0 0 0 0 Main and SFM AIM 0 0. 0. 0. 0 0 Q Q Q Q Q Q Q Q Q Q Q Q Q Q 0 0 0 0 Main and SFM AIM Figure : Top UK IPOs in Q 0 Value ( m) Issuer Forterra Motorpoint Group Time Out Group Hadrians Wall Secured Investments Draper Esprit Excl. greenshoe Incl. greenshoe 00 0 0 00 0 0 Sector Industrials Consumer Services Consumer Services Market Main Main AIM Main AIM PE backed Yes No Yes No Yes IPO Watch Europe Q 0
Figure : Share price performance of London IPOs relative to the FTSE all share index, from IPO to 0 June 0 (%) IPO Watch Europe Q 0
Figure : Value of London PEbacked IPOs vs non PEbacked IPOs in London* Figure : Volume of London PEbacked IPOs vs non PEbacked IPOs in London* 0 Volume of IPOs Value of IPOs ( bn) 0 0 Q Q Q Q Q Q Q Q Q Q Q Q Q Q 0 0 0 0 PEbacked Non PEbacked Q Q Q Q Q Q Q Q Q Q Q Q Q Q 0 0 0 0 PEbacked Non PEbacked Figure : London IPO value by sector (excl. greenshoe) By offering value ( m) H 0 Q 0 Q 0 H 0 Variance vs. H 0, 0, 0,0 0 (,) Industrials 0 () Health Care () Technology (0) Consumer Goods Consumer Services Utilities Basic Materials Telecommunications Oil & Gas Total value ( m) (,) 0 0,, 0,0 (,0) IPO Watch Europe Q 0
Figure : Global IPO activity* 0 0 0 00 0 0 0 0 00 0 00 0 0 Volume of IPOs Value of IPOs ( bn) 0 00 00 0 0 Q Q Q Q 0 Q Q Q Q Q 0 EMEA ( bn) Q Q Q Q 0 Americas ( bn) Q 0 Asia Pacific ( bn) IPOs Figure : Top 0 global IPOs in H 0 Issuer m (incl. greenshoe) Exchange Sector Deal type Privatisation/ PE Dong Energy, Copenhagen Utilities China Zheshang Bank,0 Hong Kong MGM Growth Properties,0 New York Carve out US Foods Holding,0 New York Consumer Goods a.s.r.,0 Amsterdam Privatisation BOC Aviation PE,00 Hong Kong Industrials Carve out Bank of Tianjin Hong Kong Philips Lighting Amsterdam Industrials Carve out LaSalle Logiport Tokyo MONETA Money Bank Prague Carve out IPO Watch Europe Q 0
Appendix : European IPOs by market H 0 Stock exchange TOTAL London Stock Exchange NASDAQ OMX Euronext BME (Spanish Exchange) Prague SIX Swiss Exchange Borsa Italiana Deutsche Börse Warsaw Borsa Istanbul Oslo Børs & Oslo Axess Irish Stock Exchange Zagreb Stock Exchange Bucharest Wiener Börse Total IPOs Q 0 Value ( m)* IPOs Q 0 Value ( m)* IPOs H 0 Value ( m)* IPOs Value ( m)* 0 0,,,0,0,,,0,0 0,,0,0,,,00 0 0, 0,0,,,0 0 0 0,0,,,,,,,0 0,,,00 0,,,,00 EUREGULATED NASDAQ OMX (Main) London Main and SFM Euronext BME (Spanish Exchange) (Main) Prague SIX Swiss Exchange Borsa Italiana (Main) Deutsche Börse (Prime and General Standard) Warsaw (Main) Oslo Børs Irish Stock Exchange (Main) Zagreb Stock Exchange Wiener Börse EUregulated subtotal,0 0,, 0, 0 0, EXCHANGEREGULATED London AIM NASDAQ OMX (First North) Borsa Istanbul Borsa Italiana (AIM) Euronext (Alternext) Deutsche Börse (Entry Standard) BME (Spanish Exchange) (MAB) Warsaw (NewConnect) Oslo Axess Bucharest (AeRO) Exchangeregulated subtotal Europe total 0 0,00,0 0 0,0 00, 0, 0 0,0 0,,0 IPO Watch Europe Q 0
Appendix : IPO offering value by stock exchange* Stock exchange offering value ( m) NASDAQ OMX OMX Copenhagen OMX Stockholm OMX Helsinki OMX Iceland OMX Tallinn OMX Vilnius London Stock Exchange Euronext Euronext Paris Euronext Amsterdam Euronext Brussels BME (Spanish Exchange) Prague Stock Exchange SIX Swiss Exchange Borsa Italiana Deutsche Börse Warsaw Borsa Istanbul Oslo Børs & Oslo Axess Irish Stock Exchange Zagreb Stock Exchange Bucharest Stock Exchange Wiener Börse Total IPO Watch Europe Q 0 H 0,,0,,0,0, 00,0,,,0,0 Q 0,,0 Q 0,,0 0,0,,0,00 0 0, H 0,,, 0,0,,0,0 0 0 0,0
Appendix : IPO volume by stock exchange Stock exchange offering volume NASDAQ OMX OMX Copenhagen OMX Stockholm OMX Helsinki OMX Iceland OMX Tallinn OMX Vilnius London Stock Exchange Euronext Euronext Paris Euronext Amsterdam Euronext Brussels BME (Spanish Exchange) Prague Stock Exchange SIX Swiss Exchange Borsa Italiana Deutsche Börse Warsaw Borsa Istanbul Oslo Børs & Oslo Axess Irish Stock Exchange Zagreb Stock Exchange Bucharest Stock Exchange Wiener Börse Total H 0 0 0 Q 0 0 0 Q 0 H 0 0 IPO Watch Europe Q 0