Warsaw Stock Exchange ranks 1st in Europe
Posted April 16th, 2009 in Business news by Ela Pawełek-LuberaAfter the 1st Q of 2009 the Warsaw Stock Exchange again classifies on the 1st position in Europe in terms of stock-market flotations and the value of stocks on offer.
The 1st Q of the year saw only 18 IPOs of a joint value of 9 mln EUR issued on the European stock exchanges. The results show not only a substantial fall in comparison to the same period last year (72 IPO jointly worth 1942 mln EUR) but also when compared to the 4th Q of 2008 (64 IPO worth 1238 mln EUR). Such a considerable drop in IPOs volume and value of the offerings reflects the global slowdown in the world markets. PricewaterhouseCoopers experts, who for the last eight years have been analysing the Europe-based stock exchanges, declared the last quarter was the weakest since the beginning of 2001.
For the first time, the Warsaw Stock Exchange (WSE) resulted to be the biggest European market both in respect of the volume of stock-market flotations and the value of the offerings. There were 6 IPOs (including 3 out of the 5 biggest offerings issued in Europe in the 1st Q of 2009) worth 6 million EUR on the WSE. Hydrapres made the most impressive debut worth 4 mln EUR. In fact, two third of the joint European IPO value for the last quarter fell to the Warsaw-based stock.
Besides Warsaw only London and Luxembourg recorded any IPOs. The London main market recorded only two IPOs while the AIM market had only one release for circulation. NASDAQ OMX, the second market in terms of the volume of IPO recorded four IPO all without share’s offer. NYSE Euronext which together with the London stock ranked 3rd witnessed three IPO in comparison to 17 IPO jointly worth 620 mln EUR in the 1st Q of 2008. (www.gpw.pl)
