Where the IPO Action Is: Europe
Investors on the Continent are ready to get in on a crop of new issues. First up, Orange PLC
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Haven't heard much about initial public offerings lately? Hot IPOs may be a fading memory in the U.S. after last year's market swoon. But financing of the public markets in Europe is still very much alive. There, investors are looking to get in on the IPO of French mobile-phone company Orange PLC, which will likely be one of the largest deals on the Continent in 2001.
Schroder Salomon Smith Barney research estimates that European IPOs will raise $184 billion in 2001, compared with $154 billion in 2000. The highest concentration of deals will be in high-tech companies, particularly cash-needy telecoms. Other offerings are expected to come from utility companies, financial companies, and other services.