IPOs in Europe Leapfrog U.S. Amid Cheap Valuations

The volume of initial public offerings in Europe jumped more than sixfold in the third quarter as investors lured by cheaper valuations and strengthening economies put their money to work in the region.

IPOs in Europe surged at more than double the pace of those in the U.S., according to data compiled by Bloomberg, as Deutsche Annington Immobilien SE, Germany’s largest residential landlord, and U.K. property broker Foxtons Group Plc sold shares. Volume rose more than 10 percent globally compared with a year earlier, weighed down by a 40 percent drop in Asia.