Investor Appetite Returns
After years of muted listings, Europe’s IPO market is beginning to bounce back. Proceeds from new flotations in 2024 more than doubled compared with the previous year, signaling improving conditions. Major names such as Spain’s Puig Brands and Switzerland’s Galderma drew in around €2 billion each, reflecting a fresh wave of interest in large-scale European offerings.
Big Moves From Private Equity-Backed Firms
Private equity has become a driving force behind the rebound. Security company Verisure, backed by Hellman & Friedman, is preparing for a Stockholm IPO aimed at raising close to €3.1 billion. If successful, it would count among Sweden’s largest listings in recent history. These deals highlight how private equity groups are leaning on public markets to restructure balance sheets and finance growth.
Uncertainty Still Shapes the Outlook
Despite the rise in activity, many firms are pricing shares below earlier expectations to secure buyers, showing investors remain cautious. Broader economic volatility and geopolitical pressures continue to pose challenges. Still, with several high-value IPOs in the pipeline, analysts believe the European market could strengthen further through 2025 if conditions stabilize.
