According to the latest quarterly PwC IPO Watch Europe report concerning the number and the value of initial public offerings (IPO) on the key European exchanges, the Warsaw Stock Exchange once again ranked #1 in Europe by the number of IPOs. In Q2 2012, there were 33 public offerings on the WSE (including 5 IPOs on the Main Market and 28 IPOs on NewConnect), which represented more than 41 percent of all IPOs on European markets.
By the value of IPOs in Q2 2012, the Warsaw Stock Exchange with EUR 50 million ranked third in Europe after the London Stock Exchange Group (EUR 487 million) and the Oslo Stock Exchange (EUR 61 million).
Table 1. Number and value of IPOs on European exchanges in Q2 2012 (total regulated and alternative markets).
|
European IPO Market |
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|
Q2 2012 |
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|
Exchange |
Number of IPOs |
Value of IPOs (EUR mn) |
|
WSE |
33 |
50 |
|
LSE Group |
21 |
487 |
|
Deutsche Boerse |
12 |
35 |
|
NYSE Euronext |
8 |
43 |
|
Nasdaq OMX |
2 |
|
|
Oslo |
2 |
61 |
|
BME |
1 |
2 |
|
Luxembourg |
1 |
48 |
|
SIX Swiss |
1 |
|
Source: PwC, IPO Watch Europe, Q2 2012 report
Compared to Q1 2012 (25 IPOs: 4 IPOs on the WSE’s Main Market and 21 IPOs on NewConnect), the number of IPOs increased on both markets of the WSE. However, year on year (55 IPOs in Q2 2011: 13 IPOs on the Main Market and 42 IPOs on NewConnect), the number of IPOs on both markets of the WSE decreased significantly.
The total value of IPOs on the WSE in Q2 2012 was much higher than in Q1 2012 (EUR 14 million) but over 10 times lower compared to Q2 2011 (EUR 603 million).
Table 2. Number and value of IPOs on European exchanges in Q2 2012 v. Q1 2012 and Q2 2011 (total regulated and alternative markets, in the order of the number of IPOs).
|
Q2 2012 |
Q1 2012 |
Q2 2011 |
||||||||
|
Exchange |
Number of IPOs |
Value of IPOs (EUR mn) |
Exchange |
Number of IPOs |
Value of IPOs (EUR mn) |
Exchange |
Number of IPOs |
Value of IPOs (EUR mn) |
||
|
WSE |
33 |
50 |
WSE |
25 |
14 |
WSE |
55 |
600 |
||
|
LSE Group |
21 |
487 |
LSE Group |
16 |
621 |
LSE Group |
36 |
10661 |
||
|
Deutsche Boerse |
12 |
35 |
NYSE Euronext |
8 |
975 |
Nasdaq OMX |
12 |
198 |
||
|
NYSE Euronext |
8 |
43 |
BME |
3 |
6 |
NYSE Euronext |
12 |
44 |
||
|
Nasdaq OMX |
2 |
|
Nasdaq OMX |
3 |
2 |
Luxembourg |
8 |
205 |
||
|
Oslo |
2 |
61 |
SIX Swiss |
1 |
681 |
Deutsche Boerse |
6 |
959 |
||
|
BME |
1 |
2 |
Luxembourg |
1 |
|
Oslo |
3 |
257 |
||
|
Luxembourg |
1 |
48 |
Deutsche Boerse |
1 |
|
SIX Swiss |
2 |
|
||
|
SIX Swiss |
1 |
|
|
|
|
Wiener Boerse |
1 |
366 |
||
|
|
|
|
|
|
|
BME |
1 |
5 |
||
Source: PwC, IPO Watch Europe, Q2 2012, Q1 2012, Q2 2011 reports
The biggest IPO on the WSE in April-June 2012 was the IPO of the clothing producer Solar Company on the Main Market worth EUR 37.7 million, followed by the IPOs of Work Service (EUR 7.4 million, other services sector) and Mex Polska (EUR 2.3 million, hotels and restaurants sector). The average value of an IPO on the WSE in Q2 2012 was EUR 1.8 million, more than double the value in Q1 2012 (EUR 0.7 million).
The most active sector by the number of IPOs in Poland was the new technologies sector with 9 IPOs in Q2 2012 (27 percent of all IPOs), followed by the industrial products and services sector (6 IPOs) and the travel and recreation sector (4 IPOs).
