Europe · Business news · IPO & Capital Markets · 02 Jul 2026
PwC's IPO Watch said European IPOs raised €7.2 billion in the first half of 2026, up 76% from a year earlier, and EMEA proceeds reached $10.9 billion against $9.5 billion. The largest European deal was defence group CSG's January listing on Euronext Amsterdam, which raised €3.8 billion including the over-allotment option; PwC said the dual listing of Uzbekistan's National Investment Fund in London was Europe's second-largest IPO of the year. Activity spanned defence and aerospace, AI infrastructure, fintech, healthcare and energy. Global proceeds tripled, driven in part by SpaceX's $75 billion Nasdaq IPO in June.
A busier new-issue market lifts fee income for exchange operators such as Euronext, Deutsche Börse and London Stock Exchange Group and for banks' equity capital markets desks, and gives private-equity and family owners an exit route. The concentration of proceeds in a single defence listing shows how dependent the European recovery is on a few large deals. PwC said the second-half outlook depends on geopolitics, inflation and interest rates.
Reported by PwC UK — “European IPO activity rose 76% in H1 2026 year on year, while global proceeds tripled, driven by a mega-cap listing” ↗ on 02 Jul 2026.
Official series on 02 Jul 2026 or the last day before it, and the latest observation.
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