European IPO Activity Surging During Pandemic

European IPO activity has surged during the pandemic, data from shows. 

In 2020 investors saw many IPOs along with outsized average returns, with total IPO deal value up 64 per cent to more than $300 billion, according to the Wall Street Journal and Dealogic. Almost half of that ($144.4 billion) went to American firms, their highest showing since 2000. Asian activity in 2020 was up 80 per cent to $121.3 billion, while European totals were a paltry $28.6 billion in comparison.

The tide has shifted so far in 2021, as European IPO activity surging by 850 per cent YOY with $55 billion of activity so far this month. Other regions are also posting strong showings, with America’s take in this year’s first half equalling its sum from all of 2020. Asian activity grew by 146 per cent YOY in June to $75.6 billion. The Middle East and Africa’s combined activity ballooned 375 per cent while Latin America’s was up 290 per cent.

Credit Suisse is Europe’s top IPO advisor, having worked on $15.7 billion of deals so far through today. It builds upon 2020’s global-leading $21.4 billion sum. Rounding out the top four are Barclays ($11.7 billion), UBS ($9.4 billion) and Deutsche Bank ($8.7 billion).

Finance companies lead the way in 2021. Their collective $116.6 billion in raises amounts to nearly 40 per cent of all IPO value so far in 2021. Tech is second at $79 billion with healthcare ($29.2 billion), transportation ($10.9 billion) and consumer products ($9.4 billion) are next in line.

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