European IPOs Making a Comeback

(Reuters) – Initial public offerings (IPOs) are slowly returning in Europe after a summer lull.

Latest IPOs

• Zabka: Polish convenience store group Zabka's IPO aims to raise 6.45 billion zlotys ($1.64 billion) this month.
• Cox Energy: The Spanish energy and water utility plans to raise 300 million euros ($328 million).
• Springer Nature: The German academic publisher debuted on the Frankfurt Stock Exchange, with an IPO expected to raise up to 602 million euros.
• Europastry: The Spanish frozen bakery producer pulled its IPO targeting 210 million euros, citing market instability.

Market Trends

Proceeds from IPOs across Europe have more than quadrupled year-on-year to 11.4 billion euros in the first half of 2024, as reported by PricewaterhouseCoopers.

Notable IPOs in Europe

1. PUIG: The luxury beauty and fashion group listed in Spain, raising 2.61 billion euros, the largest IPO in Europe since 2022, totaling 2.74 billion euros with the over-allotment option.
2. GALDERMA: The skincare firm raised 2.3 billion Swiss francs ($2.7 billion) in March, the largest offering in Switzerland since 2017.
3. CVC Capital Partners: The private equity group raised 2.3 billion euros in April, valuing the Dutch firm at around 14 billion euros.
4. DOUGLAS: The German cosmetics retailer's 890 million euro IPO marked its return to the Frankfurt Stock Exchange in March.
5. Athens International Airport: Greece's largest tourist gateway raised 785 million euros, the first major successful offering in Europe this year and Greece's biggest IPO in 15 years.
6. RENK: The German tank gearbox manufacturer's IPO raised around 500 million euros in early February.
7. Exosens: The French optical components firm raised around 350 million euros upon debuting on Euronext Paris in June.
8. Planisware: The French software company's IPO raised about 278 million euros in April, the largest initial offering on the French bourse in three years.

($1 = 3.9243 zlotys)
($1 = 0.9142 euros)
($1 = 0.8603 Swiss francs)