Tech IPOs Are Booming Everywhere But in Europe This Year
- Rocket Internet flags delisting, cites access to private funds
- European tech IPOs are at a decade low and lag U.S., Asia
Some of the continent’s largest IPOs in 2019 came from payments processors Nexi SpA and Network International Holdings.
Photographer: Alessia Pierdomenico/BloombergThis article is for subscribers only.
Tech stocks around the world are pushing all-time highs, spurring headline-grabbing listings by the dozen, yet in Europe the biggest news in the sector is a company looking to leave public markets.
Startup factory Rocket Internet SE has brought at least nine initial public offerings to market over the past five years, but said Tuesday it would be “better positioned as a company not listed on a stock exchange.” Its rationale for the move is all too familiar: Access to private funding is so easy that there is little need to maintain a listing.