Monday, July 15, 2013
Despite its decent aftermarket performance, the recent IPO by Cardio3
Biosciences S.A. likely won't be the starting gun for a European IPO
window. Investors say that a weaker general market, fewer specialist investors
and less appetite for risk means Europe is, at least right now, a less fertile
environment for IPOs.
On July 5, cardiovascular
company Cardio3 raised €23 million ($29.9 million) on NYSE Euronext Brussels
and NYSE Euronext Paris through the sale of 1.4 million shares at €16.65,
the low end of its €16.65-€19 range. The deal
values the company at €102 million ($132.8 million).