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WSE top in Europe for IPO volumes in 2012


The Warsaw Stock Exchange (WSE) had more initial public offerings (IPOs) in 2012 than any other bourse in Europe, topping the continental rankings for IPO volumes for the second year in a row, according to IPO Watch Europe, a quarterly publication from PwC.

The level of IPO activity declined compared with 2011, however, in Poland as elsewhere in Europe, though the prospects for 2013 are better, according to PwC.

There were a total of 105 company floats on the WSE last year, compared with 203 in 2011. They represented 40% of all debuts conducted on European stock markets in the course of 2012. The London Stock Exchange (LSE) came second with 73 floats.

The total value of the 105 company floats on the WSE was €731m, compared with €2.2bn in 2011 and well behind the LSE with €5.1bn.

As in 2011, the vast majority of the Warsaw IPOs were on NewConnect, the junior market. In fact, 90% of the overall IPO value was generated by two large debuts on the main board, i.e. the IPOs of energy group ZE PAK and Alior Bank, which were worth €676m between them.

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