New Companies to Watch

While the awakening of the somewhat dormant UK IPO market is encouraging, analysis shows that these offers are coming to the market at relatively expensive valuations

T. Rowe Price 8 May, 2014 | 12:30PM

This article is part of Morningstar's "Perspectives" series, written by third-party contributors. Here, Justin Thomson, manager of the T. Rowe Price European Smaller Companies Equity Fund reviews the UK IPO market

The new issuance market in the UK is undoubtedly buzzing. The acceleration in the number of Initial Public Offerings, ranging from retail discounters to high end brands, is a sign of improving sentiment within the market. Already, total funds raised this year have reached $7.1bn which is comparable to activity levels seen back in 2007.

The high-profile IPO this year of Poundland (PLND) and Pets at Home (PETS) have spurred this frenzy in primary issuance, and now Pizza Express, British broadcaster Channel 5, and shoe designer Jimmy Choo are among other names speculated to follow suit.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Pets at Home Group PLC237.60 GBX-1.00

About Author

T. Rowe Price  T. Rowe Price is a global investment management firm dedicated to helping clients achieve long term success.

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