Based on the close of trading on October 28, 1 company went public in Europe in October 2008. One company was added to the Dow Jones STOXX IPO Indexes in October.1
To be included in the Dow Jones STOXX IPO Indexes companies must have a free float market capitalization between € 100 million and € 3 billion on the listing date.2
The European companies which went public in October are as follows:
|
October 2008 European IPOs |
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|
Company Name |
Country |
Date of IPO |
Date of |
Date of inclusion in Dow Jones STOXX IPO Indexes (12 and 60
months) |
|
KEDCO
|
|
20.10.2008 |
Not eligible |
|
|
|
|
30.09.2008 |
Added on 30.09.2008 |
Added on 09.10.2008 |
The three best performing companies in the Dow Jones STOXX IPO Indexes in October were REVUS ENERGY (Norway, Oil & Gas), SCREEN SERVICE BROADCASTING (Italy, Technology) and VUELING AIRLINES (Spain, Travel & Leisure) with a performance of 51.17%, 10.91% and 9.46%, 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) indexes, 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 company was deleted from the Dow Jones STOXX IPO Index (3 months) in October 2008:|
October 2008 deletion from Dow Jones STOXX IPO Index (3
months) (Price, EUR) |
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|
Name |
Country |
Date
of IPO |
Date
of deletion from Dow Jones STOXX IPO Index (3 months) |
|
LABORATORIOS
ROVI SA |
|
06.12.2007 |
09.10.2008 |
In October, three companies were deleted from the Dow Jones STOXX IPO Index (12 months) and two from the Dow Jones STOXX IPO Index (60 months).
OCTOBER 2008 INDEX PERFORMANCE
The Dow Jones STOXX IPO Index (60 months) was the best performing Dow Jones STOXX IPO Index for the month with a loss of -33.34%, closing at 849.68. The Dow Jones STOXX IPO Index (12 months) posted a loss of -40.62% with a closing value of 960.12. The Dow Jones STOXX IPO Index (3 months) decreased -45.97% in October, closing at 947.11.
During the same time period, the Dow Jones STOXX 600 Index decreased -22.11%, closing at 199.44 and the Dow Jones STOXX 50 Index lost -21.76%, closing at 2061.74.
As of October 28, 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 28.88% and 21.13%, respectively. Utilities has the highest weight in the Dow Jones STOXX IPO Index (3 months) with 31.85%.
From a country perspective, Portugal has the highest weight in the Dow Jones STOXX IPO Index (3 months) with 31.85%. France weighs 18.11% in the Dow Jones STOXX IPO Index (12 months) and the U.K. weighs 21.24% in the Dow Jones STOXX IPO Index (60 months).
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|
Performance |
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|
Dow Jones STOXX IPO Index (Price, EUR) |
October
2008 |
YTD 2008 |
Q4
2007 |
2007 |
|
Dow Jones STOXX IPO Index (3 months) |
-45.97% |
-71.51% |
-2.60% |
-3.65% |
|
Dow Jones STOXX IPO Index (12 months) |
-40.62% |
-64.93% |
-6.69% |
4.40% |
|
Dow Jones STOXX IPO Index (60 months) |
-33.34% |
-59.05% |
-3.48% |
-0.33% |
|
|
|
|
|
|
|
Dow Jones STOXX 600 Index |
-22.11% |
-45.30% |
-3.50% |
-0.17% |
|
Dow Jones STOXX 50 Index |
-21.76% |
-44.03% |
-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.
