around Europe’s IPO market, a day after a poorly received listing from German retailer Douglas, bankers said.
“Sentiment around IPOs continues to be positive globally and in Europe, and those deals that are being prepared for Q2 and H2 are expected to come as planned,” said Antoine de Guillenchmidt, co-head of equity capital markets at Goldman Sachs for Europe, the Middle East and Africa, who worked on the Galderma and Douglas IPOs.
But with central banks signalling an end to interest rate hikes, the stock market is becoming a viable exit route. CVC-owned Douglas raised 850 million euros to pay off debt. Shares were priced at 26 euros, the bottom of an indicated price range, and traded as low as 22.7 euros. Though caution remains, further new issues are to be expected, Julian Schulze De la Cruz, a capital markets lawyer at Noerr, said.
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