Friday, March 31, 2006
IPOs head for Europe as Sarbox hits US markets
The true cost of the Sarbanes-Oxley Act for the capital markets in the US has emerged, as Europe raised more new funds from initial public offerings than the US for the first time in four years.
In its latest review of the European IPO market, the capital markets team at PricewaterhouseCoopers found that both the volume and value of European IPOs had grown substantially in 2005 and outstripped the US exchanges.
The number of IPOs in Europe last year grew 39% from 433 to 603 and the sums of new money raised almost doubled from 28bn euros (£19.3bn) to 51bn euros as international companies flooded into the European markets to avoid the onerous regulatory requirements imposed on the US exchanges by Sarbanes-Oxley.
posted by Brian Moran @ 9:06 AM