Share Sales in Europe Haven’t Been This Bad in Nearly 20 Years
- Proceeds of $30 billion this year are the lowest since 2003
- War in Ukraine, inflation, rate hikes all weigh on activity
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The value of stock offerings in Europe is at the lowest level since 2003 as stormy markets, roaring inflation, rising interest rates and a grim economic growth outlook send investors running for the hills.
Initial public offerings and follow-on transactions have raised a measly $30 billion this year, the worst showing in nearly two decades, according to data compiled by Bloomberg. The biggest deals have come from stake sales by the likes of Nordea Bank Abp, Deutsche Bank AG, Barclays Plc and Glencore Plc.