The EY Global IPO Trends 2023 study shows that the global market ended the year with 1,298 IPOs, while Romania stands out with the largest deal, the listing of Hidroelectrica, attracting $2.1 billion.

According to the EY Global IPO Trends 2023 study, the global Initial Public Offering (IPO) market recorded 1,298 deals, attracting $123.2 billion this year. At the same time, Romania recorded its largest deal in history with the listing of Hidroelectrica, the country's main electricity producer, which attracted $2.1 billion and achieved a market capitalisation of more than $10 billion.

Iulia Bratu, Partner, Head of Lead Advisory, EY Romania, points out that the IPO market in the country continues to grow, demonstrating investor confidence. The year 2023 was remarkable for Romania, reaching a milestone with a market capitalization of $44 billion for locally listed companies , reports Agerpres. Bratu remains optimistic about the outlook for Romania's capital markets, underpinned by strong macroeconomic fundamentals.

The study highlights changes in the global IPO market in 2023, with improving in Western markets and declining in China. IPO proceeds remained about a third below last year's pace, with an increase in deal volume in the Americas and the EMEIA region.

The outlook for 2024 is optimistic but cautious in an unpredictable market environment. An improving macroeconomic backdrop and potentially lower interest rates could attract investors back to IPOs, but geopolitical instability remains a factor of uncertainty.

The EY study was based on data covering IPOs completed from 1 January 2023 to 4 December 2023, as well as IPOs expected by 31 December 2023.