efinancialnews.com – London is being left behind in the European increase in initial public offerings in recent weeks.
The UK, which usually dominates the region, made up just 6% of the value of all European IPOs in April, which came to $3.6 billion. This is despite a stronger showing earlier in the year, when the UK made up 42% of listings in January, 73% in February and 31% in March.
Spain enjoyed the highest value of floats in April, with three deals worth a total of $1.5 billion.
Some have attributed the UK’s dip to its impending referendum in June on whether to leave the EU. Lorcan O’Shea, the head of UK and Ireland ECM at Deutsche Bank, said: “We expect the UK IPO pipeline to focus on post-Brexit timing. The uncertainty around Brexit will impact investor demand for UK assets – and the ‘why now’ and ‘what if’ discussions in a Q2 process would be distractions in IPO marketing.”
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