- One of the best performing European initial public offerings in 2024
- It should prefigure a substantial increase in its assets under management
CVC Capital Partners (NL:CVC) closed out its late April debut on Euronext Amsterdam with the shares trading at €17.05 (£14.66), a 21 per cent premium to an admittedly undemanding guide price of €14 a share. The other side of the equation is that CVC was priced at a hefty discount to listed peers, most notably Sweden’s EQT (SE:EQT).
That initial gain over the offer price has been maintained for the most part, unsurprising given the extent of the oversubscription to the offer. But the early success of CVC doesn’t signal renewed appetite for public listings. Mainland Europe has seen a series of deals in recent months after two years of subdued activity, but “risk-off” sentiment still holds sway.