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WSE top in Europe for IPO volumes in 2011


2012-01-11



The Warsaw Stock Exchange (WSE) came top in Europe for the number of initial public offerings (IPOs) in 2011, according to an annual report by PwC. There were a total of 203 IPOs on the WSE last year, nearly 90% on NewConnect, the alternative market. They represented 47% of all company floats conducted on European stock markets over this period (430, up 13% on 2010), leaving the London Stock Exchange and Nasdaq OMX in distant second and third.

Last year’s IPOs on the Warsaw bourse were worth €2.2bn, giving the WSE third place in Europe. The London Stock Exchange was the clear leader, with floats worth €14.6bn, i.e. 55% of the European total of €26.5bn (up 1% over 2010), followed by Spain’s BME.

It should be noted however that the overall IPO value was disproportionately affected by one large flotation, namely by the €1.35bn IPO of JSW, the state mining group, in Q3, the fourth-biggest float in Europe in 2011; and that in Q4 IPOs in Warsaw were worth only €19m, all of them on NewConnect.



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