WSE drops in IPO Watch Europe ranking

The Warsaw Stock Exchange came only seventh in terms of IPO value in the Q3 edition of PwC’s IPO Watch Europe, the consultancy said in a statement on Wednesday. While the European IPO market is growing, from €3 billion in Q3 2013 to €6.6 billion in Q3 2014, the Warsaw bourse is going through a different trend, PwC said. There is very little IPO activity, due to the pension funds reform, the lack of large privatizations and a general outflow of capital from emerging markets. “After many years in tops spots, the WSE dropped to a lower position in the ranking of Europe’s most active stock exchanges and there is no reason to expect its quick return to the leading group,” PwC’s Filip Gorczyca was quoted as saying. Warsaw hosted only 10 IPOs in the third quarter of 2014, three on the main market and seven on NewConnect. Their total value was €161 million.