Based on the close of trading on February 26, in February 2008, 4 companies went public in Europe. No company was added to the Dow Jones STOXX IPO Indexes in February.1
To be included in the Dow Jones STOXX IPO Indexes companies must have a free float market capitalization between 100 million EUR and 3 billion EUR on the listing date.2
The European companies which went public in February are as follows:
February 2008 European IPOs |
||||
Company Name |
Country |
Date of IPO |
Date of |
Date of inclusion in Dow Jones STOXX IPO Indexes (12 and 60
months) |
CRYPTZONE
AB-B |
|
04.02.2008 |
Not eligible |
|
DARWEN
HOLDINGS |
|
25.02.2008 |
Not eligible |
|
KENTZ
CORP |
|
05.02.2008 |
Not eligible |
|
PVAXX
|
|
15.02.2008 |
Not eligible |
The three best performing companies in the Dow Jones STOXX IPO Indexes in February were ADVANCED METALLURGICAL GRP (Netherlands, Basic Resources), FERREXPO (Switzerland, Basic Resources) and ASTROC MEDITERRANEO (Spain, Financial Services) with a performance of 43.36%, 33.89% and 33.58% respectively.
For the Dow Jones STOXX IPO Index (3 months), companies are added one day after their actual IPO date and remain in the index for 3 months. This allows maximum participation in the IPO performance effect. For the Dow Jones STOXX IPO (12 months) and the Dow Jones STOXX IPO (60 months), companies are added on the second Wednesday following their IPO and remain in the index for 12 and 60 months, respectively.
Companies are removed from the indexes after the close of trading on the first Wednesday following 3, 12 and 60 calendar months of inclusion in the index.
The following companies were deleted from the Dow Jones STOXX IPO Index (3 months) in February 2008:
February 2008 deletions from Dow Jones STOXX IPO Index (3
months) (Price, EUR) |
|||
Name |
Country |
Date
of IPO |
Date
of deletion from Dow Jones STOXX IPO Index (3 months) |
FLUIDRA |
|
31.10.2007 |
07.02.2008 |
HAMBURGER
HAFEN & LOGISTIK |
|
02.11.2007 |
07.02.2008 |
In February, no company was deleted from the Dow Jones STOXX IPO Index (12 months) and one from the Dow Jones STOXX IPO Index (60 months).
FEBRUARY 2008 INDEX PERFORMANCE
The Dow Jones STOXX IPO Index (12 months) was the best performing Dow Jones STOXX IPO Index for the month with a gain of 6.69%, closing at 2456.97. The Dow Jones STOXX IPO Index (60 months) posted a gain of 6.55% with a closing value of 1885.75. The Dow Jones STOXX IPO Index (3 months) decreased -2.52% in February, closing at 2610.25.
During the same time period, the Dow Jones STOXX 600 Index increased 2.44%, closing at 330.01 and the Dow Jones STOXX 50 Index gained 2.09%, closing at 3308.61.
As of February 26, 2008, Industrial Goods & Services has the highest weight in the Dow Jones STOXX IPO Index (12 months) and in the Dow Jones STOXX IPO (60 months) with 39.99% and 21.78% respectively. Financial Services has the highest weight in the Dow Jones STOXX IPO Index (3 months) with 23.11%.
From a country perspective, the U.K. has the highest weight in the Dow Jones STOXX IPO Index (12 months) and in the Dow Jones STOXX IPO Index (60 months) with 18.53% and 22.35% respectively. Italy weighs 27.19% in the Dow Jones STOXX IPO Index (3 months).
|
Performance |
|||
Dow Jones STOXX IPO Index (Price, EUR) |
February
2008 |
YTD 2008 |
Q4
2007 |
2007 |
Dow Jones STOXX IPO Index (3 months) |
-2,52% |
-21,48% |
-2.60% |
-3.65% |
Dow Jones STOXX IPO Index (12 months) |
6,69% |
-10,26% |
-6.69% |
4.40% |
Dow Jones STOXX IPO Index (60 months) |
6,55% |
-9,12% |
-3.48% |
-0.33% |
|
|
|
|
|
Dow Jones STOXX 600 Index |
2,44% |
-9,50% |
-3.50% |
-0.17% |
Dow Jones STOXX 50 Index |
2,09% |
-10,18% |
-3.57% |
-0.36% |
The Dow Jones STOXX IPO Indexes measure the performance of the European IPO market in three different time horizons – 3, 12 and 60 months – based on the duration a component remains in the respective index.
Further information on the Dow Jones STOXX IPO Indexes is available at www.stoxx.com
1Includes all IPOs that are domiciled and traded at the major exchanges of 18 European countries (Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom) and that are available on major data providers and surpass a minimum size.
2The index universe is defined as all IPO companies in the equity market which would be eligible for the Dow Jones STOXX Total Market Index. Free float market capitalization on the listing date is calculated by multiplying the number of shares with the IPO offer price and with the float factor, defined as IPO shares divided by total shares outstanding.