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FESE: Listed Equity Database Enlarged Edition 2023 And 2024

Date 03/12/2025

FESE has just released the enlarged edition of the Listed Equity Database (LED) for 2023 and 2024, a unique analysis which offers a detailed breakdown of all the new listings, delistings and total listed equity instruments for FESE Members during these years.

Key trends

New listings

  • After a subdued performance in 2023 compared to 2022, the number of new listings increased slightly in 2024, particularly in regulated markets (RM) and SME-focused multilateral trading facilities (MTFs).
  • In 2024, growth of new listings was observed across industrials, real estate, technology, consumer discretionary and health care, whereas financials contracted and other sectors remained relatively stable compared to 2023.
  • The most common way of listing is through an IPO, followed by direct listings and private placements.

Delistings

  • In contrast, delistings increased on both RMs and MTF for SMEs in 2024 compared to the previous year.
  • In 2023 and 2024, going private remained the most common reason for delisting, followed by company wind-up.

Total listed companies

  • In 2024, Sweden was the country of incorporation for the largest number of listed companies, followed by Poland, France, Germany and Spain.
  • The largest market cap of all listed companies at the end of 2024 was recorded by companies in the industrial sector, followed by financials and consumer discretionary.

 

2024 saw recovery in new listings of both small and large caps

At the end of 2024, listed companies were mainly in the industrial, financial and consumer discretionary sectors,
with a total market capitalisation of nearly €8 trillion,
mostly on European regulated markets