![](https://i1.wp.com/image.cnbcfm.com/api/v1/image/107406803-1714127002272-gettyimages-2149295601-FRANCE_LA_DEFENSE.jpeg?v=1714127034&w=1920&h=1080&w=1920&resize=1920,1080&ssl=1)
![Euronext CEO says IPO market is back and pipeline 'very, very impressive'](https://image.cnbcfm.com/api/v1/image/107406779-17141200201714120017-34277060151-1080pnbcnews.jpg?v=1714120019&w=750&h=422&vtcrop=y)
Euronext Chief Executive Stéphane Boujnah told CNBC on Friday that private equity group CVC Capital Partners’ much-anticipated first transaction is a sign that the European IPO market is back on track.
At around 12:30 noon London time, shares of Amsterdam-listed CVC, one of Europe’s largest buyout firms, were up nearly 24%.
The shares opened at more than 17 euros ($18.25) per share, well above the 14-euro offering price and reaffirming investors’ strong interest in the company. The IPO is widely expected to be one of the largest in Europe this year.
CVC expects to raise 2 billion to 2.3 billion euros from the transaction. The company said in a statement that the IPO was oversubscribed multiple times and the number of subscriptions was increased to meet strong demand from global institutional investors. .
“This is a strong signal that IPOs are coming back in Europe, especially in continental Europe,” Euronext’s Boujnah told CNBC’s “Squawk Box Europe” on Friday.
Boujnah said that the Euronext platform is the largest stock exchange in Europe and one of the largest stock exchanges in the world. It has welcomed 11 stock listings since the beginning of this year.
“This is both a signal of the success of the Euronext platform, a signal of the competitiveness of the Euronext platform, and a signal of the return of the IPO market,” he added.
Euronext’s stock exchange offices in the La Défense business district of Paris, France, on Tuesday, April 23, 2024.
Bloomberg | Bloomberg | Getty Images
Buena’s comments follow a sharp decline in the number of companies listed on Euronext last year and several high-profile European companies choosing to list in the United States.
For example, British chip design company Arm went public in New York last year, dealing a blow to Britain’s post-Brexit vision. and Irish building materials company CRH explain In September, the company successfully transferred its primary listing to the New York Stock Exchange and delisted from the Euronext Dublin platform.
euronext report Last year, the number of stocks listed on its platform was 64, a significant drop. from The previous year welcomed 83 listed companies.
Asked whether Euronext was on track to surpass the 64 listed last year, Burkina responded: “I think the worst is over.”
“We have a very active cohort of EU domestic companies and international companies. Any international company considering listing in Europe is now looking to the Euronext market,” he added.
“Our product pipeline over the next few months is very, very impressive.”