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European ECM Roundtable 2012

IFR’s European Equity Capital Markets Roundtable was held in late October with representatives from the buyside, sellside and a stock exchange. The conversation came at the end of a full-day conference covering all matters related to European ECM.

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European ECM Roundtable 2012: Participants

To view the digital version, please click here. Reinout Koopmans Jefferies Reinout Koopmans joined Jefferies as co-head of European Equity Capital Markets in September 2011, with 16 years of investment banking experience. He joined from Deutsche Bank, where he spent 10 years and was most recently head of ECM for the Natural Resources sector and previously co-head of ECM for Emerging Markets. Reinout holds a PhD in Economics from the LSE. Marco Estermann SIX Swiss Exchange Marco Estermann has been a member of the Management Committee of SIX...

European ECM Roundtable 2012: Part 1

To view the digital version, please click here. IFR: If we had held this roundtable in June the conversation would have been rather depressing coming straight on the back of the cancelled multi-billion euro IPO of German speciality chemicals company Evonik. Things have changed significantly since then with a sharp increase in deal activity and share prices, so what are your initial thoughts on European equity capital markets and the immediate future? GREG BENNETT, FIDELITY WORLDWIDE INVESTMENT: It was clear to me when we came back from the...

European ECM Roundtable 2012: Part 2

To view the digital version, please click here. IFR: Getting investors to pay for that growth relies on them knowing the company better. Last year we spoke about the need to put investors together with all types of issuer potentially months in advance of an IPO. Is that happening and what is the impact when these floats haven’t occurred many months later? BENNETT: We have definitely seen a change in the way that advisers approach IPOs and they are bringing companies to meet us at an earlier stage far more often than several years ago. It is...

European ECM Roundtable 2012: Part 3 - IFR ECM Survey

To view the digital version, please click here. The results of IFR’s European ECM survey, conducted in the autumn, offered a relatively positive, if cautious, view of capital markets activity in the first half of 2013. When the survey was launched, EMEA IPOs had garnered just US$5.9bn in proceeds. Towards the end of November, that had risen to US$13.5bn thanks to Telefonica Deutschland and Direct Line. But survey respondents are veering towards those totals looking a little better in the first half of 2013: while 55% reckon EMEA IPO proceeds...