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Venture-backed European IPOs in Q2 up on previous quarter20/07/2006. Source: AltAssets. 
 A total of 31 venture-backed European companies completed IPOs in the second quarter of 2006, 22 more than in the previous quarter and 13 more than in Q2 2005, according to the European Liquidity Report from Dow Jones VentureOne.
The aggregate amount raised in these IPOs in Q2 2006 was €650m, compared to €180m in Q1 2006 and €372m in Q2 2006.
Stephen Harmston, director of global research at VentureOne, said, 'This quarter it was apparent that the Deutsche Börse exchange in Germany provided liquidity and financing opportunities for a large share of the IPOs.
'A combination of a pent up supply of companies in Germany and the rise of German stock markets toward the end of the first quarter contributed to the increased level of activity. The markets there have been on a volatile course since the beginning of summer, indicating this trend may not continue in the year's second half,' Harmston continued.
By industry, 20 of the quarter's IPOs were IT companies and six were healthcare companies. On a geographical basis, 14 of the IPO companies this quarter were based in Germany, seven in France, three in the UK, two in Belgium, and one apiece in Switzerland, Russia, Poland, Italy and Ireland.
The median pre-money valuation of the European IPO companies was €45.1m, down from €58.1m in Q1 2006 but up from €41.5m in Q2 2005.
The largest IPO of the second quarter was Russian television networks operator CTC Media, which raised €83.77m in its June offering and was valued at €1.89bn.
In other exits, there were 29 M&A deals for European venture-backed companies in the second quarter, a decline from the 54 that occurred in the same quarter of 2005.
Copyright © 2006 AltAssets
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