Euronext: 64 IPOs in 2023, hopes for 2024

(CercleFinance.com) – Euronext announced on Friday that it recorded 64 new IPOs this year, confirming its dominance in the listing segment of the European market.

In total, the companies that debuted in the seven locations raised €2.5 billion in 2023, representing a cumulative market capitalization of around €50 billion, or 40% of the IPOs made this year on the old continent.

The most notable entry is Spanish construction and infrastructure management group Ferrovial, which is listed on Euronext Amsterdam after relocating its headquarters to the Netherlands.

The stock has risen more than 10% since its IPO, completed last June.

Another successful transaction by American cosmetics and perfume group Coty, which has also gained 10% in the stock market since its first entry on Euronext Paris in September.

After a tumultuous start as part of an $8.8 billion operation following its spin-off from Solvay, Syensqo’s price has fallen 7% since its first stock market low in early December.

According to data released by consultancy EY, 136 IPOs were completed in Europe this year, representing a cumulative amount of $12.9 billion, a 32% drop in value compared to 2022.

The audit specialist says he hopes the market will pick up again in 2024 as many governments take measures to strengthen financial markets.

“In the face of a stabilizing monetary policy, stock market candidates could prepare for more favorable windows in 2024,” comments Franck Sebag, partner at EY.

With its seven exchanges in Amsterdam, Brussels, Dublin, Lisbon, Oslo, Milan and Paris, Euronext says it is the leading “pool” of liquidity in Europe, with around 25% of equity transactions processed on its platforms.

The group says it currently welcomes 1,900 issuers to its equity markets, which equates to 6,600 billion in capitalization.

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