Ebb & Flow

With 32 European IPOs completed in this funding window, the picture is not quite as dire in Europe as conventionally depicted. Indeed, in the three most recent completed offerings, which were of varying sizes, European investors again made clear that they are willing to fund stories with revenues.

The IPOs ranged from $40.9 million raised by Orexo (SSE:ORX) to two small deals: E3.3 million ($3.9 million) raised by ExonHit (Euronext:ALEHT) and £1.5 million raised by Angel Biotechnology (LSE:ABH). ...