DNR Industrie De Nora Spa

By Christian Moess Laursen

Europe's initial-public-offering activity is picking up this year after new listings slowed sharply in 2022 due to market volatility. Proceeds raised by European IPOs plunged to 15.6 billion euros ($16.73 billion) in 2022 compared with EUR75 billion in 2021, and more than half of last year's proceeds corresponded to Porsche AG's listing, according to a PwC report published earlier this year.

German web-hosting and cloud company Ionos Group SE and Italian supplier of electric-motor components EuroGroup Laminations SpA debuted on stock markets last week, and more companies have said an IPO is in the cards. Here are some of the companies that are either planning or considering an IPO in 2023:

--Thyssenkrupp AG said on Tuesday that it is closely watching capital markets, as it readies to launch an IPO for Thyssenkrupp Nucera, its water-electrolysis business, when market conditions are right. The German industrial conglomerate owns a 66% stake, with Italy's Industrie de Nora SpA holding the remaining 34%. The IPO was originally planned for last June but was postponed due to a difficult market environment.

--ABB Ltd. said this month that its E-Mobility unit had raised a further 325 million Swiss francs ($353.5 million) in a private placement ahead of its expected IPO. The Swiss technology group last year postponed the IPO of the unit, which focuses on engineering and making chargers and infrastructure for electric vehicles, but ABB said it remains committed to listing once market conditions are right. ABB E-Mobility has raised a total of around CHF525 million.

--Renault SA in November last year said it planned to list its EV and software business Ampere on the Euronext Paris stock market in the second half of 2023 at the earliest. Renault will hold a majority in Ampere, while its long-term ally Nissan Motor Co. will take a stake of up to a 15%, the companies said earlier this month.

--Spanish construction-materials company Grupo Cosentino is considering an IPO but hasn't made a decision yet, a company spokesman told Dow Jones Newswires. The company could be valued at more than EUR3 billion in an IPO, Spanish business paper Expansion reported last month.

--Lottomatica, an Italian gambling company backed by Apollo Global Management Inc., said in late January that it is contemplating a potential listing as it considers alternatives to support future growth. A possible IPO could raise around EUR1 billion, Bloomberg reported last month.

--Other European IPOs were called off last year due to tough market conditions, including those of Wintershall Dea AG, an oil-and-gas company majority-owned by BASF SE, and Italian energy company Eni SpA's retail and renewables business Plenitude. BASF remains committed to selling its Wintershall shares through an IPO, the company has told Dow Jones Newswires.

Saxo Bank said last month that an IPO could happen this year, after the lender pulled out of a merger deal with a special purpose acquisition company in December, Reuters reported. Saxo Bank declined to comment on a potential IPO when contacted by Dow Jones Newswires.

Write to Christian Moess Laursen at christian.moess@wsj.com

(END) Dow Jones Newswires

February 14, 2023 07:57 ET (12:57 GMT)

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