The good performance of the stock market in the final stretch of 2023 has fuelled hopes of a recovery in IPOs in 2024, with eight Spanish companies awaiting the evolution of the markets to decide whether to place part of their capital with investors and stock market funds.
A long list of Spanish companies are hoping to clear the hurdles to make their IPOs in the coming months: Puig, Hotelbeds, Astara Mobility, Volotea, OK Mobility, Cosentino, Cirsa and Calvera Hydrogen are among the firms considering going public. Although all of them are at different stages of preparation, they all agree that their respective IPOs depend on market conditions, according to Expansión newspaper.
According to Berenberg Bank, “Spain has a promising pipeline of potential IPOs, but they could come in the second half of 2024, once a major IPO breaks the ice in another country and warms the appetite of the European market”.
According to data from Berenberg Bank’s capital markets team, 2023 was the worst year in Europe for IPOs since 2009, a year marked by the great financial crisis, and the second worst so far in the 21st century.
In Europe alone 17 significant IPOs have been completed, in transactions that have raised €5 billion from investors. Schott Pharma, Lottomatica, Ionos, Thyssenkrupp Nucera, Coty, Ferretti and Stainless Tankers are among the names that achieved their listing targets.
