LONDON, March 24 Europe has seen a glut of
initial public offerings (IPOs) this year, with companies
including Britain's Poundland and Denmark's ISS
taking advantage of buoyant markets, and there are
plenty of deals to come.
Following are some of the largest IPOs under way or expected
this year in the Europe, Middle East and Africa (EMEA) region,
as well as a selection of those already completed in March.
ISSUER DATE LISTING EXPECTED BOOKRUNNERS
EXPECTED LOCATION PROCEEDS
OW Bunker April 2 Copenhagen 20.5 MS, CA
Danish ship fuel supplier OW Bunker IPO-OWBT.CO is aiming
for a stock market value of up to 5.5 billion Danish crowns
Thurgauer April 7 SIX Swiss 181-209 ZK
Swiss regional bank Thurgauer Kantonalbank has set
the price range for its initial public offering at 64-74 Swiss
francs per share and expects to list on the SIX Swiss Exchange
on April 7.
eDreams March/ Madrid 69 DB, JPM
Online travel firm eDreams Odigeo, the owner of Opodo, is to
launch an initial public offer of shares in Spain, aimed at
institutional investors, to pay off debt and fund its further
Just Eat April London 166 JPM, GS
Online takeaway service Just Eat IPO-JEC.L plans to raise 100
million pounds ($166.3 million) from listing its shares on the
London Stock Exchange in April.
Matomy April London 100 UBS, BAML
Israeli digital advertising firm Matomy Media Group
IPO-MMGP.L is planning a London IPO to raise $100 million,
and plans to spend $19.3 million of the proceeds on increasing
its stake in Team Internet AG to 70 percent from 20 percent.
Brit Group April London 275 JPM, UBS
Netherlands-based insurer Brit Group IPO-BRIT.L is to raise
up to 275 million pounds ($457.3 million) in a London listing,
sources said, estimated to value the group at up to 1.1
Tnuva April Tel Aviv TBA TBA
Tnuva, Israel's biggest food maker, is expected to file a
prospectus with the Israel Securities Authority in the coming
days for an initial public offering.
Applus April Madrid TBA MS, UBS
Spanish industrial testing and inspection firm Applus
is likely to go ahead with an initial public
offering of its shares in early April.
Anima April Milan TBA UBS, BIMI,
Anima Holding , which controls Italian fund manager
Anima SGR, is aiming to sell 55 percent of the group on the
Milan stock market, seeking a valuation of 2.2-2.4 billion
euros ($3.3 billion).
Cambian April London 33 JPM
British health company Cambian Group IPO-CMBG.L is planning
to raise about 20 million pounds ($33.2 million) with a
listing on the London Stock Exchange.
Credit Bank TBA London TBA CT, MS, SB
A source familiar with the deal said the company is still
considering an IPO this year but it would be difficult to get
anything done in the current environment or second quarter.
Detsky Mir TBA London 300-400 CS, CT,
The Russian children's goods retailer, owned by conglomerate
Sistema, has applied to local regulators for permission to
list outside Russia but timing is uncertain under current
Multimedia Q2 Warsaw 328 TBA
Poland's No.3 cable operator Multimedia wants to
return to the Warsaw bourse with a share offering worth up to
1 billion zlotys ($328 million) after being delisted in 2012.
Elior By summer Paris TBA DB, JPM,
2014 HSBC, CA
French caterer Elior IPO-ELIO.PA plans to list on the Paris
stock exchange by summer 2014. A sale could value Elior at
about 4 billion euros.
Com Hem By summer Stockholm TBA MS, JPM
BC Partners has picked banks to lead a stock market listing of
Swedish cable operator Com Hem which could value the firm at
more than 20 billion crowns ($3.1 billion), three people
familiar with the matter told Reuters.
NCB Q3 Saudi TBA TBA
National Commercial Bank IPO-NACO.SE, Saudi Arabia's largest
lender by assets, plans to sell a 15 percent stake in the
kingdom's first bank IPO since 2008. NCB has assets of $101
Grupo Lar March 5 Madrid 551
Grupo Lar shares rose 4 percent after it floated in
Madrid on March 5
Poundland March 12 London 619 JPM, CS
Shares in discount retailer Poundland made a strong
debut on the London Stock Exchange, with the price jumping 33
Pets at Home March 12 London 462 BAML, GS,
Britain's biggest pet shop group Pets at Home priced
its share offer at 245 pence, giving a debut market
capitalisation of 1.225 billion pounds.
ISS March 13 Copenhagen 1510 NOR, GS,
Shares in Danish outsourcing company ISS jumped by
more than 15 percent from the offer price after they returned
to the Copenhagen stock market
Boohoo.com March 14 London 495
Shares in British online fashion retailer boohoo.com
jumped by more than 50 percent, giving the firm a value of
around 870 million pounds ($1.45 billion).
Tanker March 20 Oslo 175 DNB
Tanker Investments' raised $175 million in an
initial public offering in Oslo, valuing the firm at 2.9
billion crowns ($480 million)
CANCELLED / POSTPONED
Metro N/A London 1390 GS, SB
German retailer Metro AG has put on ice a plan for a
stock market listing of a stake in its Russian wholesale
business because of market turmoil over the crisis in Ukraine.
Ono N/A Madrid N/A DB, JPM
Vodafone has agreed to buy Spain's largest cable
operator Ono for 7.2 billion euros ($10 billion), diverting
the Spanish firm's planned IPO.
TBA = To be announced; CS= Credit Suisse; GS = Goldman Sachs; MS
= Morgan Stanley; DB = Deutsche Bank; JPM = J.P. Morgan; BAML =
Bank of America Merrill Lynch; CT = Citi; RenCap = Renaissance
Capital; DNB = DNB Markets; NOR = Noreada; SB = Sberbank; CA =
Credit Agricole; CR = Carnegie; ZK = Zuercher Kantonalbank; BIMI
= Banca IMI; UC = UniCredit
($1 = 0.5982 British pounds)
($1 = 5.4161 Danish crowns)
($1 = 0.7256 euros)
(Compiled by Freya Berry; Editing by Louise Ireland)