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WSE top in Europe for IPO volumes in 2011


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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