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2 weeks ago | 
ionanalytics.com | Lloyd Vassell
The IPO market in Europe, the Middle East and Africa (EMEA) is firmly shut, with global volatility spiking in reaction to harder-than-expected tariffs introduced by US president Donald Trump. There are still hopes that new listings will resume in the second half, but history suggests that it might more than a couple of quarters for markets to reopen without global central bank intervention.
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2 weeks ago | 
ionanalytics.com | Lloyd Vassell
Equity markets are firmly in the eye of the storm after US president Donald Trump’s unveiling of sweeping global tariffs sent global stocks into freefall. IPOs on both sides of the Atlantic appear to be the first capital markets casualty of a collapse in market sentiment. The market on both sides of the Atlantic has been weak since the start of March, due to increasing fears over tariffs, which were sent into overdrive last week.
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2 weeks ago | 
ionanalytics.com | Lloyd Vassell
Europe’s battery energy storage systems (BESS) segment is expected to continue to see solid investor interest despite headwinds in the adjacent renewable energy market. ”Dealmaking will be driven by the increasing penetration of renewables, which makes BESS both necessary and, generally speaking, increasingly financially viable”, Salvatore Santoro, head of investment banking for Sweden and global head of renewables, infrastructure & transition at DNB, said.
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2 weeks ago | 
ionanalytics.com | Lloyd Vassell
US President Donald Trump’s blanket imposition of 10% tariffs on all US imports is rattling its global trading partners but will likely have the worst impact on Americans – both in the markets and on the cost of goods for everyday citizens. On the ECM front, global markets are spiraling, with European indices red across the board and America’s markets also on shaky ground.
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2 weeks ago | 
ionanalytics.com | Lloyd Vassell
A new risk is emerging for dealmakers planning transactions in Europe: local regulators applying the Foreign Subsidies Regulation (FSR) more vigorously than expected. The FSR, which regulates whether companies that have received government subsidies have gained an unfair advantage when buying European targets, has been on the statute book since 2003.
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3 weeks ago | 
ionanalytics.com | William Cain |Lloyd Vassell
Shares in some of Europe’s leading exporters slumped and market volatility ticked higher today after US President Donald Trump imposed swingeing tariffs on trading partners. Jeweller Pandora was among the biggest decliners in the Stoxx 600. As of mid-afternoon its shares were trading 12% lower at DKK 939, erasing around EUR 1.3bn from its market value.
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3 weeks ago | 
ionanalytics.com | Nick Roumpis |Brendan Malkin |Stefano Berra |Lloyd Vassell
The sale by Tetragon Financial Group of its majority stake in Equitix is in its final round with mainly US investors targeting the UK infrastructure fund manager. Sources said that at least four investors, comprising Franklin Templeton, Barings, Prudential and alternative asset manager Hunter Point Capital (HPC), have been involved in the final bidding round in recent weeks.
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3 weeks ago | 
ionanalytics.com | Samuel D. Kerr |Cristiano Bona |Lloyd Vassell
CoreWeave’s tricky road to public markets has shown that investors have become highly sensitised to IPO risks, even for the hottest sectors. The New Jersey company offers cloud-based graphics processing unit infrastructure to artificial intelligence (AI) developers – in theory, a segment that investors need to track. However, its tilt at the IPO market could have been a case of the right deal at the wrong time.
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3 weeks ago | 
ionanalytics.com | Iñaki Miguel |Manu Rajput |Lloyd Vassell
Dealmaking in Europe’s cybersecurity sector could receive a boost from increasing defence spending as policymakers grapple with the implications of hybrid warfare. “Investor appetite in cybersecurity software and infrastructure assets has recently rebounded, resulting in a sharp rise in transaction volumes and valuations,” Jaime Sendagorta, director at GP Bullhound, said. European cybersecurity deals boomed in 2024, with 172 transactions worth a combined EUR 12.6bn, according to Mergermarket data.
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3 weeks ago | 
ionanalytics.com | Natalie McNelis |Tono Gil |Lloyd Vassell
The EU’s Foreign Subsidies Regulation (FSR) is getting real for China, with an active European Commission (EC), backed by the bloc’s top court, showing its eagerness to employ this instrument to the fullest extent possible – ‘ex officio’ included. The FSR was added to the EC’s tool kit in 2023, enabling the watchdog to go after foreign subsidies that distort competition in the EU. There are notification obligations for acquisitions or public tenders over a certain value threshold.
