Warsaw Stock Exchange – Leading In Europe In Terms Of IPOs Number In 2009

The Warsaw Stock Exchange is in the first place among European stock exchanges in terms of the number of newly listed companies in 2009, according to the latest IPO Watch Europe report prepared by PwC. The first time in its history, the Warsaw bourse takes the top position.

“The Polish capital market becomes one of the barometers and instruments of European economy development. Large transactions carried out through the Warsaw Stock Exchange, both as initial and secondary public offerings, support that statement” – Ludwik Sobolewski, WSE President, comments the recent PwC report.

According to the latest IPO Watch Europe report prepared by PricewaterhouseCoopers (PwC), Warsaw is in the top position in terms of the number of IPOs not only in the CEE region, but also compared to such established exchanges as NYSE-Euronext, Nasdaq-OMX or Deutsche Boerse. The WSE already occupied high, runner-up, positions in 2008 and 2007 but it is the first time in its history that the Warsaw bourse is in the top spot in the IPO Watch report. In terms of the IPOs value in 2009, the WSE is the third largest exchange in Europe.

The WSE’s high position regarding primary market activity is a result of both a large value of shares subscribed by investors and a high number of new listings. The PwC report has been compiled for years following the same methodology. The fact that the WSE has been advancing systematically in recent years towards the top position in European rankings proves how effective, significant and recession-proof the WSE is as a mechanism of raising equity.

Table no. 1 – IPO Number and value on European bourses.
(regulated and alternative markets, source: PwC)

European IPO Market in 2008			European IPO Market in 2009
Exchange	Number of IPOs	IPOs Value (mln €)	Exchange	Number of IPOs	IPOs Value (mln €)
LSE	99	8,884	WSE	38	1 594
WSE	91	2,502	NYSE Euronext	36	1 908
NYSE Euronext	65	2,501	LSE	25	1 660
Nasdaq OMX	26	208	Luksemburg	20	1 296
Luxembourg	20	314	Nasdaq OMX	11	66
Oslo Børs	13	63	Borsa Italiana	6	137
Deutsche Boerse	12	330	Deutsche Boerse	5	53
Borsa Italiana	6	129	SIX Swiss Exchange	4	-
SIX Swiss Exchange	6	424	BME	3	19
Irish SE	1	-	Oslo Børs	2	91
BME	1	292	Athens SE	1	10
Wiener Boerse	-	-	Irish SE	-	-
Athens SE	-	-	Wiener Boerse	-	-

WSE’s high position in 2009 is a result, among others, of the PGE (Polska Grupa Energetyczna) offering (first listing: Nov. 6) which was the largest IPO in Europe in the fourth quarter.