What is the situation for IPOs?

 

In the world

Since the beginning of the year, more than 2,000 companies have gone public worldwide

The technology sector recorded the highest number of IPOs, followed by the healthcare sector and then the industrial sector. In terms of geographic area, the Asia-Pacific region led the way in terms of deals.

 

In Europe

In Europe, 333 companies went public in 2021, 202 more than in 2020. On this basis, a quarter of these IPOs were carried out on the London Stock Exchange, the main stock market in Europe.

 

In France

In France, 2021 was marked by a significant number of IPOs, with 42 French companies listed on the Paris market in 2021, compared to 11 the previous year. Biotech and alternative energies are the sectors with the highest weighting in these listings, followed by IT services and car rental.

Over the same period, 14 companies withdrew from the listing. A volume almost identical to that of 2020. 16 changed market (14 moved from Eurolist to Euronext Growth). No French company moved from a non-regulated market to Eurolist.

What about SPACS?

With 1 entry in 2020 and 4 in 2021, SPACs have been introduced directly on Eurolist with projects expected to be completed by mid-222. The targeted sectors are again energy transition, technology, entertainment and leisure.

What are the specificities according to the IPO markets?

 

Eurolist

  • Regulated market dedicated to mature companies, divided into 3 compartments according to the amount of market capitalization:
    • Compartment A: over 1 billion euros
    • Compartment B: from 150 million to 1 billion euros
    • Compartment C: less than 150 million euros

 

  • Eligibility: high level of admission criteria
  • Liquidity: one of the most liquid markets in Europe, supported by a very large pool of institutional and retail investors

 

Euronext Growth

  • Regulated but not regulated market, suitable for SMEs
  • Eligibility: more flexible admission criteria adapted to SMEs
  • Liquidity: large community of long-term institutional and retail MidCap investors active in this segment.

 

Euronext Access

  • Non-regulated market for start-ups and SMEs wishing to benefit from the advantages of an IPO in order to access other markets at a later stage.
  • Eligibility: light admission criteria
  • Liquidity: smaller active investor community than Euronext Euronext Growth

 

Euronext Access +

  • Euronext Access compartment adapted to start-ups and fast-growing SMEs (springboard to larger markets).
2021 analysis stock exchange quotation companies eurolist euronext finance France initial public offering ipo market spac