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PwC-Studie "Börsengänge: hoffnungsvoller Jahresauftakt" / IPO Watch Europe Survey, Q1 2012
PwC-Studie "Börsengänge: hoffnungsvoller Jahresauftakt" / IPO Watch Europe Survey, Q1 2012
PwC-Studie "Börsengänge: hoffnungsvoller Jahresauftakt" / IPO Watch Europe Survey, Q1 2012
PwC-Studie "Börsengänge: hoffnungsvoller Jahresauftakt" / IPO Watch Europe Survey, Q1 2012
PwC-Studie "Börsengänge: hoffnungsvoller Jahresauftakt" / IPO Watch Europe Survey, Q1 2012
PwC-Studie "Börsengänge: hoffnungsvoller Jahresauftakt" / IPO Watch Europe Survey, Q1 2012
PwC-Studie "Börsengänge: hoffnungsvoller Jahresauftakt" / IPO Watch Europe Survey, Q1 2012
PwC-Studie "Börsengänge: hoffnungsvoller Jahresauftakt" / IPO Watch Europe Survey, Q1 2012
PwC-Studie "Börsengänge: hoffnungsvoller Jahresauftakt" / IPO Watch Europe Survey, Q1 2012
PwC-Studie "Börsengänge: hoffnungsvoller Jahresauftakt" / IPO Watch Europe Survey, Q1 2012
PwC-Studie "Börsengänge: hoffnungsvoller Jahresauftakt" / IPO Watch Europe Survey, Q1 2012
PwC-Studie "Börsengänge: hoffnungsvoller Jahresauftakt" / IPO Watch Europe Survey, Q1 2012
PwC-Studie "Börsengänge: hoffnungsvoller Jahresauftakt" / IPO Watch Europe Survey, Q1 2012
PwC-Studie "Börsengänge: hoffnungsvoller Jahresauftakt" / IPO Watch Europe Survey, Q1 2012
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PwC-Studie "Börsengänge: hoffnungsvoller Jahresauftakt" / IPO Watch Europe Survey, Q1 2012

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Zürich (ots) - - Hinweis: Die Studie "IPO Watch Europe Survey, Q1 2012" in englisch kann kostenlos im pdf-Format unter http://presseportal.ch/de/pm/100008191 heruntergeladen werden - Im ersten Quartal …

Zürich (ots) - - Hinweis: Die Studie "IPO Watch Europe Survey, Q1 2012" in englisch kann kostenlos im pdf-Format unter http://presseportal.ch/de/pm/100008191 heruntergeladen werden - Im ersten Quartal 2012 sank die Zahl der ... / http://ots.ch/600d2c6

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  • 1. www.pwc.comIPO Watch EuropeSurveyQ1 2012
  • 2. Contents European IPO activity by value and volume 3 IPO offering value 4 IPO volume 5 Top five IPOs 6 IPOs by sector and value 7 US activity 8 Offering value of IPOs by month 9 Volume of IPOs by month 10 EU- versus exchange-regulated markets 11 IPOs by market 12 About IPO Watch Europe 13PwC Q1 2012 IPO Watch Europe Survey 2
  • 3. 58 IPOs raised €2.3bn in the first quarter of 2012. After a sustained period ofuncertainty, volatility and shelved floats, the IPO market is starting to fight its way backto health, with average transaction values on the rise.European IPO activity by value and volume Q1 2012 Q1 2011 Q4 2011 160 16,000 Total European listings comprise those with: 140 14,000 13,376 No money raised 12 20 28 120 12,000 Money raised 46 75 50 Value of IPOs (€m)Volume of IPOs 100 10,000 Average offering value (€m) * 50 39 17 9,370 80 8,000 60 6,000 40 4,000 2,299 20 2,959 2,000 866 - - Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 IPOs Value €m * Average offering value has been calculated based on total offering value over the number of listings raising money.PwC Q1 2012 IPO Watch Europe Survey 3
  • 4. The quarter’s two largest IPOs took place on Euronext and the SIX Swiss Exchange –capturing 63% of funds. SIX Swiss hosted only one transaction, raising €681m.IPO offering value Average offering value * 1% 0% Average offering Average offering value value Stock exchange (€m) Q1 2012 (€m) Q4 2011 SIX Swiss 681 - 27% NYSE Euronext NYSE Euronext 163 2 42% SIX Swiss Exchange London Stock Exchange 44 89 London Stock Exchange Group NASDAQ OMX 2 31 BME (Spanish Exchange) 2 - Warsaw Warsaw 1 - Others Deutsche Börse - 5 30% Oslo Børs & Oslo Axess - 4 Borsa Italiana - 3 * Average offering value has been calculated based on total offering value over the number of listings raising money.PwC Q1 2012 IPO Watch Europe Survey 4
  • 5. Two-thirds of activity took place on exchange-regulated markets, though 97% of fundswere raised on EU-regulated marketsIPO volume Q1 2012 Offering 5% Stock exchange IPOs value (€m) 5% 5% EU-REGULATED Warsaw NYSE Euronext (Euronext) 6 972 43% SIX Swiss Exchange 1 681 London Stock Exchange Group London Stock Exchange Group (London Main) 7 569 14% NYSE Euronext Warsaw (Main) 4 8 NASDAQ OMX (Main) 1 - NASDAQ OMX Deutsche Börse (Prime and General Standard) - - BME (Spanish Exchange) Wiener Börse - - Oslo Børs - - Others London Stock Exchange Group (Borsa Italiana Main) - - 28% BME (Spanish Exchange) (Main) - - Luxembourg 1 - EU-regulated sub-total * 20 2,230 EXCHANGE-REGULATED London Stock Exchange Group (London AIM) 9 52 Warsaw (NewConnect) 21 6 BME (Spanish Exchange) (MAB) 3 6 NYSE Euronext (Alternext) 2 3 NASDAQ OMX (First North) 2 2 London Stock Exchange Group (London SFM) - - Oslo Axess - - London Stock Exchange Group (Borsa Italiana AIM) - - Luxembourg (EuroMTF) - - Deutsche Börse (Entry Standard) 1 - Exchange-regulated sub-totall * 38 69 Europe total 58 2,299 * IPOs by market are shown gross of dual listings; however these are netted off in the Europe total number and offering values.PwC Q1 2012 IPO Watch Europe Survey 5
  • 6. London hosted three out of the top five IPOs in Q1 2012 though their combined total(€491m) was eclipsed by the quarter’s two largest IPOs that raised a total of €1.48bnTop five IPOs The top five IPOs accounted for 86% of all value raised €m Country of Five largest IPOs of Q1 2012 raised Sector Market Segment Origin 14% Ziggo 804 Telecommunications Euronext Euronext Netherlands DKSH Holding 681 Industrial Goods & Services SIX Swiss Main Thailand Bluecrest Bluetrend 198 Investment Company London Main Guernsey Ruspetro 196 Oil & Gas London Main Russia Alcentra European Floating Rate Income Fund 97 Investment Company London Main Guernsey Total 1,976 €m Country of Five largest IPOs of Q1 2011 raised Sector Market Segment Origin 86% Justice Holdings 1,063 Investment Company London Main UK Aker Drilling 455 Oil & Gas Oslo Børs Norway HMS Hydraulic Machines & Systems Group 264 Industrial Goods & Services London Main Russia Farglory Land Development Co 157 Real Estate London Main Taiwan Italy1 Investment 150 Investment Company Borsa Italiana Main Italy Top 5 IPOs Others Total 2,089 €m Country of Five largest IPOs of Q4 2011 raised Sector Market Segment Origin Polymetal International 421 Mining London Main Russia Bilfinger Berger Global Infrastructure SICAV 251 Investment Company London Main UK Damille Investment II 63 Investment Company London SFM Guernsey Hagar 31 Retail OMX Main Iceland Secure Trust Bank 21 Banks London AIM UK Total 787PwC Q1 2012 IPO Watch Europe Survey 6
  • 7. Technology IPOs were mainly hosted on Warsaw NewConnect, raising a combinedtotal of €2m on this exchange. The quarter’s largest IPO, Ziggo, a company in thetelecommunications sector, raised €804m on Euronext.IPO sectors by value 3% Company Company Company 3% IPOs IPOs IPOs 3% Sector Q1 2012 Q1 2011 Q4 2011 10% Telecommunications 35% Technology 13 5 12 Industrial Goods & Services Industrial Goods & Services 8 18 19 Investment Companies Real Estate 6 5 1 Investment Companies 5 13 3 16% Oil & Gas Mining 4 1 4 Technology Pharmaceuticals & Biotech 4 5 3 Pharmaceuticals & Biotech Media 4 2 2 30% Others Financial Services 3 6 7 Oil & Gas 3 8 4 Telecommunications 3 1 1 Health Care 1 4 4 Construction & Materials 1 3 1 Banks 1 1 1 Chemicals 1 - - Retail 1 2 2 Personal & Household Goods - 4 4 Travel & Leisure - 5 3 Basic Resources - 1 3 Utilities - 5 2 Automobiles & Parts - 3 1 Food & Beverage - 3 1 Insurance - - - Total 58 95 78PwC Q1 2012 IPO Watch Europe Survey 7
  • 8. Building on momentum carried over from the fourth quarter of 2011, the US IPO market showed significant strength in the first quarter of 2012, resulting in the highest first quarter volume since 2007US activity Q1 2012 Q1 2011 Q4 2011 Offering value Offering value Offering valueStock exchange IPOs (€m) IPOs (€m) IPOs (€m)NYSE 25 3,338 16 8,617 15 2,659NASDAQ 19 1,030 17 892 13 2,174US total 44 4,368 33 9,509 28 4,833PwC Q1 2012 IPO Watch Europe Survey 8
  • 9. The quarter’s largest IPOs were held towards the end of March, significantly boosting money raised in Q1 2012Offering value of IPOs by month 2,500 2,113 1,949 2,000Value of IPOs (€m) 1,500 1,000 458 500 389 198 152 0 January February March 2011 2012PwC Q1 2012 IPO Watch Europe Survey 9
  • 10. The quarter experienced a steady increase in IPO activity as it progressedVolume of IPOs by month 45 40 40 35 29 30Volume of IPOs 26 24 25 21 20 15 13 10 5 0 January February March 2011 2012PwC Q1 2012 IPO Watch Europe Survey 10
  • 11. March’s large transactions were held on EU-regulated exchangesEU- versus exchange-regulated markets 2,250 2,000 42 1,750 1,500Value of IPOs (€m) 1,250 1,000 1,998 1,907 750 500 250 2 271 356 25 33 196 115 127 187 0 Jan 2011 Jan 2012 Feb 2011 Feb 2012 Mar 2011 Mar 2012 Exchange EUPwC Q1 2012 IPO Watch Europe Survey 11
  • 12. IPOs by market Q1 2012 Q1 2011 Q4 2011 Offering value Offering OfferingStock exchange IPOs (€m) IPOs value (€m) IPOs value (€m)TOTALNYSE Euronext 8 975 6 43 1 2SIX Swiss Exchange 1 681 - - - -London Stock Exchange Group (1) 16 621 25 1,971 17 806Warsaw 25 14 45 121 42 15BME (Spanish Exchange) 3 6 2 - - -NASDAQ OMX 3 2 3 3 11 31Deutsche Börse 1 - 4 244 3 5Luxembourg 1 - 7 110 1 -Oslo Børs & Oslo Axess - - 4 468 2 7Wiener Börse - - - - 1 -Europe total (3) 58 2,299 95 2,960 78 866EU-REGULATEDNYSE Euronext (Euronext) 6 972 1 - - -SIX Swiss Exchange 1 681 - - - -London Stock Exchange Group (London Main) 7 569 13 1,742 4 672Warsaw (Main) 4 8 7 73 4 -NASDAQ OMX (Main) 1 - - - 4 31Deutsche Börse (Prime and General Standard) - - 2 192 2 5Wiener Börse - - - - 1 -Oslo Børs - - 2 468 - -London Stock Exchange Group (Borsa Italiana Main) - - 2 150 - -BME (Spanish Exchange) (Main) - - 1 - - -Luxembourg 1 - - - - -EU-regulated sub-total (3) 20 2,230 27 2,625 15 708EXCHANGE-REGULATEDLondon Stock Exchange Group (London AIM) 9 52 9 76 10 65Warsaw (NewConnect) (2) 21 6 38 48 38 15BME (Spanish Exchange) (MAB) 3 6 1 - - -NYSE Euronext (Alternext) 2 3 5 43 1 2NASDAQ OMX (First North) 2 2 3 3 7 -London Stock Exchange Group (London SFM) - - - - 1 63Oslo Axess - - 2 - 2 7London Stock Exchange Group (Borsa Italiana AIM) - - 1 3 2 6Luxembourg (EuroMTF) - - 7 110 1 -Deutsche Börse (Entry Standard) 1 - 2 52 1 -Exchange-regulated sub-total (3) 38 69 68 335 63 158Europe total 58 2,299 95 2,960 78 866(1) The London Stock Exchange Group comprises the London and Borsa Italiana stock exchanges.(2) Cumulatively the WSE NewConnect raised €7m in Q1 2012. However, certain transactions raised an amount that rounded down to nil and the figure above is the sum of the rounded values.(3) IPOs by market are shown gross of dual listings; however these are netted off in the Europe total number and offering val ues.PwC Q1 2012 IPO Watch Europe Survey 12
  • 13. About IPO Watch EuropeIPO Watch Europe surveys all new primarymarket equity IPOs on Europe’s principal stockmarkets and market segments (includingexchanges in Austria, Belgium, Denmark, France,Germany, Greece, Holland, Ireland, Italy,Luxembourg, Norway, Poland, Portugal, Spain,Sweden, Switzerland and the UK) on a quarterlybasis. Movements between markets on the sameexchange and greenshoe offerings are excluded.This survey was conducted between 1 Januaryand March 31 2012 and captures new marketIPOs based on their transaction date. All marketdata is sourced from the stock marketsthemselves and has not been independentlyverified by PricewaterhouseCoopers LLP.PwC Q1 2012 IPO Watch Europe Survey 13
  • 14. This publication has been prepared for general guidance on matters of interest only, and doesnot constitute professional advice. You should not act upon the information contained in thispublication without obtaining specific professional advice. No representation or warranty(express or implied) is given as to the accuracy or completeness of the information containedin this publication, and, to the extent permitted by law, PricewaterhouseCoopers LLP, itsmembers, employees and agents do not accept or assume any liability, responsibility or duty ofcare for any consequences of you or anyone else acting, or refraining to act, in reliance on theinformation contained in this publication or for any decision based on it.© 2012 PricewaterhouseCoopers LLP. All rights reserved. In this document, “PwC” refers toPricewaterhouseCoopers LLP which is a member firm of PricewaterhouseCoopersInternational Limited, each member firm of which is a separate legal entity.

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