European IPOs set to climb, says PwC

08/01/2010 European IPOs set to climb, says PwC

European initial public offerings (IPOs) are expected to improve this year after showing signs of recovery during the final quarter of 2009.

This is according to a new report from audit jobs provider PricewaterhouseCoopers (PwC), which noted that there was a "distinct upturn in activity" between October and December of last year.

A total of 61 IPOs took place on European exchanges over the three-month period, including one involving Polish energy firm Polska Grupa Energetyczna, which raised ?1.45 million (£1.29 million).

Partner at the Big Four firm's capital markets group Richard Weaver noted that there are "clear signs" the continent's IPO markets are "opening for business again".

However, he noted that it is "still very much as buyer's market", with pricing pressures remaining in place.

The report comes after Ernst & Young produced figures last month showing that IPOs are on the rise globally, with capital generated in the 11 months to November 2009 reaching $94.9 billion (£58.2 billion).

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