European recovery reawakens interest in IPOs
ONDON (AP) - The European economic recovery is breathing life into what has long been a moribund market for initial public offerings, according to consultancy firm Ernst & Young.
In its quarterly update published on Wednesday, Ernst & Young said it expects Europe to see more mid-sized and large companies deciding to list their shares on stock exchanges, particularly in the more mature economies of the UK and Germany.
"With economic conditions stabilising and regional debt markets steadying, market volatility has subsided and valuations are improving," said Mr Martin Steinbach, who leads Ernst & Young's IPO unit in Europe.
"We believe the conditions are right for an increase in public listings in Europe in the remainder of 2013."