The FINANCIAL — According to the latest quarterly PwC IPO Watch Europe report on the number and value of initial public offerings (IPO) on the major European exchanges, WSE ranked second in Europe by the number of IPOs.
The FINANCIAL — According to the latest quarterly PwC IPO Watch Europe report on the number and value of initial public offerings (IPO) on the major European exchanges, WSE ranked second in Europe by the number of IPOs. There were 10 IPOs on the Warsaw Stock Exchange in Q1 2014 (2 IPOs on the Main Market and 8 IPOs on NewConnect). WSE’s share in the aggregate number of IPOs in Europe was 15%. The London Stock Exchange remained the leader in the number of IPOs (32 IPOs).
The aggregate value of IPOs on WSE in Q1 2014 was EUR 18 million, which ranks WSE eighth in Europe by the value of IPOs.
The aggregate value of IPOs on WSE in Q1 2014 was lower than in Q1 2013 (EUR 58 million). The biggest IPO in Q1 2014 was that of Vistal Gdynia at EUR 12.1 million.
“Privatisations of large State-owned companies, which have for years driven the growth of the capital market, are gradually coming to an end. Major IPOs, like that of Energa at PLN 2.4 billion newly listed in Q4 2013, have put as at the top of the ranking as measured by the value of IPOs. Many of the companies which have been privatised on the stock exchange were among the biggest market players in their sectors,” said Adam Maciejewski, President of WSE.
“It is high time we acknowledged that the public capital market can be a pillar of financing economic growth, especially in an innovative economy. Our goals cannot be reduced to mere statistics based on privatisation decisions. Capital market participants have already switched to new, more market-oriented conditions of business. The better the conditions of using capital market instruments created by the government under the strategy of development of the Polish capital market currently in the drafting, the greater the results. As a part of these efforts, WSE has for long advocated among others for incentives for companies which finance themselves on the capital market and for a system of support for long-term investments. The public capital market brings obvious benefits for economic growth. Consequently, it should be better protected at the regulatory level by creating conditions for using diverse sources of growth financing in business,” said Adam Maciejewski.
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