The last leg of the year is set to be a busy one for initial public offerings on both sides of the Atlantic, with companies including Italy’s Pirelli, Alibaba-backed Best Logistics and video streaming platform Roku lining up to list.
The pipelines were building in spite of poor performance for this year’s high-profile deal from Snap, the owner of Snapchat, in the US and investor concerns that a strengthening euro may curtail the earnings recovery in Europe.
“As long as overall markets remain relatively constructive and transactions continue to be executed well, we continue to expect healthy volumes over the rest of the year,” said David Ludwig, head of Americas equity capital markets at Goldman Sachs.