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European IPO Activity Still Surging; Total Value of Deals Jumped by 330% YoY to $89B

Jastra Kranjec
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After a record-breaking first half of the year, global IPO activity has slowed down in the third quarter, driven by inflation concerns, tightening of the monetary policies by central banks, supply chain disruptions, and worries about the post lockdown economic recovery. Although the total value of deals hit $112.3bn, down from $122.3bn in the same period a year ago, it was still the most active Q3 in recent years in Europe and the United Kingdom.

According to data presented by Stock Apps, the European IPO activity jumped by 330% YoY, with the combined value of deals reaching $89bn last week.

Total Value of Deals 75% Higher than in the Last Two Years Combined

While the global IPO activity slowed down over the past few months, following a generally quieter summer period and a pause for Chinese IPOs in the US, the European market has seen a variety of businesses coming to the market across different sectors, including financials, healthcare, technology, consumer and industrials.

The Wall Street Journal and Dealogic data also showed that Europe witnessed much stronger IPO activity and bigger YoY growth than other regions. Over the past ten months, the total value of IPO deals in the European market hit $89bn, or 75% higher than in 2019 and 2020 combined.

US companies raised $218.2bn in IPO deals since the beginning of the year, 101% more than in the same period a year ago. The total value of deals in the Asian market jumped by 46% YoY to $132.2bn as of last week. The Middle East and Africa also witnessed impressive growth, with the total value of IPOs soaring by 320% YoY to $12.2bn.

Statistics show JP Morgan is the number one advisor on IPOs in Europe this year, with $9.22bn worth of deals year-to-date. Goldman Sachs ranked second on Europe’s IPOs bookrunner list, with $5.86bn worth of deals between January and October. City and Morgan Stanley follow, with $5.56bn and $5.07bn, respectively.

Tech Companies Lead in IPOs, Total Value of Deals hit $25.6B YTD

Although all the largest sectors in the European market saw impressive year-over-year growth, statistics show the tech industry still leads in the total value of IPO deals. Over the past ten months, European tech companies completed $25.6bn worth of IPOs, significantly up from $9.3bn in the year-ago period.

European finance companies have raised almost $17.5bn through initial public offerings since January, showing a massive 962% increase YoY.

The healthcare sector witnessed $8.34bn worth of IPO deals over the past ten months, a fourfold increase compared to the same period a year ago. Utility and Energy sectors follow, with $4.8bn, and $4.69bn, respectively.

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