Total value of Romanian IPOs in 2015, smaller than in 2014, PwC study reveals

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On the Bucharest Stock Exchange (BVB) there were 5 IPOs last year, on the AeRO market. The total value of these IPOs was smaller than that registered in the Electrica IPO in 2014 (EUR 444 million), says PwC’s latest IPO Watch, a press release informs.

“In Romania, we’ve seen last year five new listings on the AeRo market segment, mostly small IT companies. However, the proceeds from these listings were much smaller than in 2014, when the state-owned Electrica power company was listed on the Bucharest Stock Exchange. It is clear that the Romanian capital market still needs the input of the state authorities if it is to attract major IPOs and to grow into the financial hub of South-Eastern Europe as one should expect, giving Romania’s economy size in the region. In this respect, it is much awaited the listing of Hidroelectrica, as well as other state owned companies, such as the Bucharest International Airport”, said Daniel Anghel, Partner, Tax and Legal Services, Public Sector Leader, PwC Romania.

European IPOs finished 2015 on a high with total annual proceeds up16 percent (to EUR 57.4 billion) and average offering value up 27 percent (to EUR 248 million) year on year.

“Looking ahead, 2016 will feature companies demonstrating strong and predictable growth stories with more focus than ever before on the longer term outlook. The technology and financial sectors will be strongly evident, but the IPO market will have to overcome the adversity of rock bottom oil prices, increasing interest rates and continued exchange rate volatility”, Ana-Maria Butucaru, Director, Assurance Services for the Financial Sector, PwC Romania also noted.

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