PE investors in Europe have seen a modest recovery in IPO activity this year after two consecutive years of decline—however activity still falls below the previous peak in 2021.
There have been 15 PE-backed IPOs involving European-headquartered companies this year worth a total €41.8 billion (around $45 billion). Last year, the total value of IPO activity among companies in the region reached €59.7 billion, however there were just 8 IPOs in all—much of the value came from London-based chipmakers ARM‘s $54.8 billion blockbuster IPO in New York.
Listing activity among European companies is still a far cry from the 2021 peak, when there were 146 IPOs worth €129.9 billion in total, before dropping down to €10.5 billion in 2022. Moreover, not all companies are deciding to list in Europe.
In addition to the aforementioned ARM IPO, two other significant listings involving companies from the region have gone to New York in recent years: German shoemaker Birkenstock and Israeli digital media company Playtika.
Furthermore, PitchBook’s Q3 2024 European PE Breakdown notes that while there were positive signs for European PE-backed IPOs at the start of the year—particularly, with firms like PE firm CVC, perfume retailer Douglas and dermatology company Galderma going public—many firms are trading below their offering price.
Deutsche Borse
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