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Mergermarket Group, a media company which provides the advisory, corporate and financial communities with forward-looking intelligence, analysis and data, is launching its enhanced Equity Capital Markets (ECM) service today.
With this new ECM service, which is a joint initiative of Mergermarket and Dealreporter, subscribers will benefit from real-time coverage identifying potential issuers and tracking live equity sales throughout Europe.
The European IPO pipeline towards the end of 2013 is strong, especially in London, according to the ECM service’s proprietary database. The second half of the year looks set fair to outperform the first half of 2013, which saw 48 IPOs. Last year saw a total of 101 IPOs in Europe, according to Mergermarket Group data. Block trades during the beginning of September signal conditions are solid for IPOs to get away.
John West, Head of ECM coverage, said: "The shift in size of IPOs we saw in 1H13 is striking - larger deals, led by real estate and financial services, getting done even as the total number of listings slipped. But the second half looks like it will be a lot busier, with Royal Mail’s IPO set to be a major highlight."
He continues that: “Block trades are always a leading indicator of IPO activity. Last week's placements bode well for listing candidates, but Syria remains a complicating macro factor."
Another noteworthy example in the market currently is Foxtons, a live IPO, in London. Dealreporter and Mergermarket’s proprietary intelligence has focused on valuation - with a source suggesting an indicative market cap of EUR 500m for the estate agent.
As the market picks up, the ECM service will continue to cover the growing flow of IPOs, while previewing and tracking upcoming rights issues, convertible bonds and block trades.
