Stock market: the first disappointing steps of new Euronext recruits

In Paris, it’s finally upturned for IPOs. 2020 was the worst year in France in terms of listing since 2012. “But 2021 is in the Top 4 of the last 20 years, with 4 billion euros raised, behind 2006 (9.7 billion euros), 2015 (5.2 billion) and 2014 (4.5 billion) ”explains Vincent le Sann, at Portzamparc. Even the failed operation of Icade Santé at the beginning of October, which was postponed, did not have any major consequences on the markets.

For bankers working on IPOs, this year has therefore been a good vintage. But on the side of investors who have subscribed to these operations, enthusiasm is undoubtedly less great. Out of the thirty-eight companies which took their first steps on the main markets of Euronext Paris all markets combined (namely Euronext and Euronext Growth), at the end of December, only eight posted a share price higher than that of the price of introduction of their actions.