March 2008 Preliminary IPO Report - A Monthly Report From STOXX Ltd. On European Initial Public Offerings (IPOs)

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 inclusion in Dow Jones STOXX IPO Index (3 months	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.

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