PwC Says IPO Markets Drop With Global Uncertainty, Big4.com Reports

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Growing concerns over countries like China main driver.

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Big4.com, the premier social networking forum for professionals and alumni of Accenture, Andersen, BearingPoint, Capgemini, Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers PwC reports the PwC IPO Watch Europe survey showing that in Europe, after some encouraging signs in the first three months of the year, IPO activity slowed dramatically in the second quarter with some 81 IPOs raising just €0.7 billion, a 40% decline in volume and a 95% decline in proceeds from the same period in 2011.

Big4.com notes that in London there were just 19 IPOs during the quarter raising €0.3 billion, 46% down in volume and 97% down on value compared with a year ago when 35 IPOs raised €10.3 billion. In the US, the second quarter started strongly with 27 IPOs in the first two months, but IPO activity stalled in May due to ongoing US domestic and global macroeconomic concerns.

Big4.com reports that including the €12.5 billion proceeds from the Facebook IPO, total IPO proceeds raised in the second quarter of 2012 amounted to €16.5 billion, 66% higher than the comparable period in 2011 and the third highest quarterly proceeds since 2007.

“The ferocity of the current conditions means that companies wanting to get their IPO away – and there is still an active pipeline - face challenging headwinds in the short term,” says Mark Hughes, capital markets partner at PwC

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  •     Kristy Short

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