10. PE-backed IPOs: Increased activity in 2024
After a notable decline in PE-backed IPOs in 2022, IPO activity in the Nordics came to a near halt in 2023, with only one listing throughout the year. In 2024, the number increased somewhat to four listings
PE-backed IPO activity in the Nordics experienced an increase in 2024, with four listings during the year. This marks an improvement from 2023, which saw only a single PE-backed IPO. However, the number is at its second lowest point observed over the past 10 years.
The broader European IPO landscape also demonstrated significant recovery. European IPO proceeds increased to €14.6 billion from 57 offerings, driven by major listings such as Puig Brands, Galderma, and CVC Capital. This resurgence was attributed to improving macroeconomic conditions and renewed investor confidence. Private equity firms were instrumental in this European recovery.