Return of the blockbuster IPO revives interest in CEE equity markets

Emerging Europe’s dormant primary equity market springs back to life. Can the revival continue into 2021?

Until September, primary equity markets in central and eastern Europe (CEE) had been largely dormant for nearly three years. In 2019, IPO volume from the region, including Russia and Turkey, totalled just $356 million.

That all changed with the $2.7 billion listing in Warsaw of Polish ecommerce player Allegro, the second-largest IPO in Europe this year and the largest in CEE since 2007.

Tim Umberger, partner at emerging markets fund manager East Capital, says the deal “put CEE back on the map” for many global investors.

Thanks for your interest in Euromoney!
To unlock this article: