The European market for initial public offerings has come roaring back this year after a moribund, COVID-hit 2020, but the poor debut by Deliveroo has amplified concerns around whether the momentum can last.
European companies raised $19.55 billion through stock market listings in the first three months of the year, the highest since the fourth quarter of 2015, according to Refinitiv data, and bankers say the pipeline on IPO candidates is crowded.
So far, there have only been 10 SPAC listings in Europe in 2020 and 2021, with a total value of about $1.3 billion – figures dwarfed by the United States where 522 such listings have brought in over $300 billion, according to Refinitiv data.
Read more at Reuters
By Abhinav Ramnarayan and Arno Schuetze
