Ward on Europe

The importance of picking earnestly

OXFORD - Europe has had its hottest IPO year ever. European companies have raised E2.3 billion ($2 billion) as 25 companies made their debuts on exchanges around the world.

While recent days have seen significant profit-taking on NASDAQ-listed IPOs, this year's class of newly public European life science companies continue to look robust (see Cover Story). Nevertheless, the recent sight of tissue engineering company Isotis NV (Euronext:ISO, Bilthoven, the Netherlands) slipping below its issue price in initial trading suggests that it's still important to choose the right market for a flotation.