Listed companies in Denmark once again are active in equities markets. This is Danske Bank’s conclusion now six months into 2023, having played a lead role in nine out of the eleven equity capital markets transactions for large corporates this year.
“The market for listed companies reopened in H1 2023 and well-prepared issuers have been rewarded when presenting robust narratives for the use of proceeds.”
Global Co-head of Equity Capital Markets, Christian Hansen, assesses:
‘After strong 20/21 performance and then literally no appetite for equity transactions most of last year, we have seen a pick-up for listed companies, and well-prepared issuers have been rewarded by the market when presenting robust narratives for the use of proceeds.’
He says that on a Nordic level, both IPOs and secondary equity offerings continue to face difficulties due to market volatility and limited market receptiveness. ‘For the IPO market to reopen, secondary offerings need to function well, and intra-week equity markets must become less volatile.’
Whenever this will happen remains uncertain. However, in the past we have seen some prominent European market IPOs upon longer periods of dry out.
‘While we anticipate continued market volatility, we believe to be entering a more balanced period within equity capital markets If the successful execution of listed company equity deals continue post-summer, other secondary offerings could re-emerge in H2 2023, initially with increased price sensitivity,’ he finalises.
In Denmark, Danske Bank is market leader on equity market transactions. Over the past five years, we have supported 50 ECM transactions, totalling a deal value of EUR 5,995.17m.
“The market for listed companies reopened in H1 2023 and well-prepared issuers have been rewarded when presenting robust narratives for the use of proceeds.”
Christian Hansen
Global Co-head of Equity Capital Markets.
Global Co-head of Equity Capital Markets, Christian Hansen, assesses:
‘After strong 20/21 performance and then literally no appetite for equity transactions most of last year, we have seen a pick-up for listed companies, and well-prepared issuers have been rewarded by the market when presenting robust narratives for the use of proceeds.’
He says that on a Nordic level, both IPOs and secondary equity offerings continue to face difficulties due to market volatility and limited market receptiveness. ‘For the IPO market to reopen, secondary offerings need to function well, and intra-week equity markets must become less volatile.’
Whenever this will happen remains uncertain. However, in the past we have seen some prominent European market IPOs upon longer periods of dry out.
‘While we anticipate continued market volatility, we believe to be entering a more balanced period within equity capital markets If the successful execution of listed company equity deals continue post-summer, other secondary offerings could re-emerge in H2 2023, initially with increased price sensitivity,’ he finalises.
In Denmark, Danske Bank is market leader on equity market transactions. Over the past five years, we have supported 50 ECM transactions, totalling a deal value of EUR 5,995.17m.
