Multiple debuts
In terms of IPOs the Warsaw Stock Exchange (WSE) was surpassed only by the London Stock Exchange, PricewaterhouseCoopers' (PwC) IPO Watch 2005 report shows.
"The strong performance of the WSE can be partly attributed to EU membership. Poland's entry to the EU has triggered a surge in IPOs. Many Polish companies have undergone restructuring in recent years in order to become more competitive and ready for the EU market," explains Wiesław Rozłucki, CEO of the Polish bourse.
"After such a successful period, it might be difficult to sustain the same level of activity on the WSE. However, we remain cautiously optimistic about 2006 and estimate that there will be some 20 IPOs in the coming year," he added.
Despite concerns relating to the introduction of new EU capital-market regulations, in 2005 European stock ex-changes witnessed a considerable growth both in the value and volume of IPOs. The number of IPOs on the main European bourses grew by almost 40 percent, from 433 in 2004 to 603 last year, while their value jumped from EUR 28 (zł.108.5) billion in 2004 to EUR 51 (zł.197.7) billion a year later.
