Based
on the close of trading on March 25, in
March 2008, 5 companies went public in Europe. No company was added to the Dow
Jones STOXX IPO Indexes in March.[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 March are as follows:
March
2008 European IPOs |
||||
Company
Name |
Country |
Date
of IPO |
Date
of |
Date
of inclusion in Dow Jones STOXX IPO Indexes (12 and 60 months) |
ENEGI
OIL PLC |
U.K. |
24.03.2008 |
Not
eligible |
|
MOLMED
SPA |
Italy |
05.03.2008 |
Not
eligible |
|
SKIPTI
HF |
Iceland |
19.03.2008 |
Not
eligible |
|
ST
HELEN'S CAPITAL PLC |
U.K. |
03.03.2008 |
Not
eligible |
|
VALIANT
PETROLEUM PLC |
U.K. |
12.03.2008 |
Not
eligible |
The three best performing companies in the Dow Jones STOXX IPO Indexes in March were DUFRY GRP (Switzerland, Retail), PREMIER FOODS (U.K., Food & Beverage) and VOCENTO (Spain, Media) with a performance of 18.78%, 18.48% and 17.66% 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.
Companies deleted from
the Dow Jones STOXX IPO Indexes in March 2008:
In
March, no company was deleted from the Dow Jones STOXX IPO Index (3 months), one
from the Dow Jones STOXX IPO Index (12 months) and two from the Dow Jones STOXX
IPO Index (60 months).
MARCH 2008 INDEX
PERFORMANCE
The
Dow Jones STOXX IPO Index (3 months)
was the best performing Dow Jones STOXX IPO Index for the month with a loss of
-6.02%, closing at 2416.90. The Dow Jones
STOXX IPO Index (12 months) posted a loss of -7.93% with a closing value
of 2208.31. The Dow Jones STOXX IPO Index
(60 months) decreased -7.82% in March, closing at 1674.04.
During
the same time period, the Dow Jones STOXX 600 Index decreased -3.86%, closing at 306.63 and
the Dow Jones STOXX 50 Index lost
-4.79%, closing at 3036.15.
As
of March 25, 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 45.83% and 21.56% respectively. Financial Services has the highest weight
in the Dow Jones STOXX IPO Index (3 months) with 27.16%.
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
18.67% and 22.52% respectively. Italy weighs 27.41% in the Dow Jones STOXX IPO
Index (3 months).
|
Performance |
|||
Dow
Jones STOXX IPO Index (Price, EUR) |
March
2008 |
YTD
2008 |
Q4
2007 |
2007 |
Dow
Jones STOXX IPO Index (3 months) |
-6,02% |
-27,30% |
-2.60% |
-3.65% |
Dow
Jones STOXX IPO Index (12 months) |
-7,93% |
-19,34% |
-6.69% |
4.40% |
Dow
Jones STOXX IPO Index (60 months) |
-7,82% |
-19,33% |
-3.48% |
-0.33% |
|
|
|
|
|
Dow
Jones STOXX 600 Index |
-3,86% |
-15,91% |
-3.50% |
-0.17% |
Dow
Jones STOXX 50 Index |
-4,79% |
-17,58% |
-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.
[1]
Includes 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.
[2] The 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.