Mood changes as European IPOs fly

摘要

European ECM is approaching the end of the second quarter in significantly better health than at the beginning, with the majority of IPOs in the past two weeks pricing off the bottom of their respective ranges and trading in positive territory. That is a remarkable shift considering that in April and May 12 IPOs were cancelled, just one of which was down to an M&A bid proving more attractive than the float. Since then, only French rail equipment maker delachaux group has terminated its IPO, again due to a dual-track listing/M&A process.