- Global IPO activity continues to slow despite unicorns coming to market
- Technology, health care and industrials were the most active sectors in H1 2019
- Mega IPOs and robust IPO pipelines across all regions will bolster future activity
Praha, 9 July 2019 – The trend of unicorn IPOs coming to market and pushing their proceeds to historic levels continued in Q2 2019 despite ongoing geopolitical uncertainty and trade tensions, resulting in 507 IPOs in H1 2019, raising total proceeds of US$71.9b. While deal numbers were down 28% from H1 2018, first-day returns on the main markets were up 15.4% on average and post-IPO performance increased 28.4%. Technology, health care and industrials saw the largest share of IPOs in H1 2019, together accounting for 266 IPOs (52% of global IPOs by deal numbers) and raising US$47.8b altogether (66% of global proceeds). By proceeds, technology was the strongest sector with US$29.3b raised (41% of global proceeds). These and other findings were published today in the EY quarterly report, Global IPO trends: Q2 2019.
Czechs still like to shop in shopping centres, despite the growing popularity of e-shops. Turnover and footfall are growing
According to the newest CBRE Shopping Centre Index study, which has been compiled for the seventh year by the CBRE company, the world leader in the field of retail services, shopping centres in the Czech Republic have been successful again. Turnover in Czech regional shopping centres grew for the fifth consecutive year. Comparing the year 2017 with the previous year, turnover grew 4.2%. Rents grew only minimally. The vacancy rate is stable. The “Rent-to-sales ratio” reached a historical minimum and the average basket achieved its historical maximum. This once again proves that Czech retail is doing well.
- 59% of companies worldwide plan deals in the next year fueled by portfolio reshaping
- Strong M&A intentions accelerated rather than stalled by uncertainty
- Despite Brexit uncertainty, UK is top investment destination for the first time in 10 years
Despite mounting geopolitical complexities, the appetite for global mergers and acquisitions (M&A) is at a 10-year high, according to the 20th edition of the EY Global Capital Confidence Barometer (CCB), a biannual survey of more than 2,900 senior executives across 47 countries. Companies continue to use acquisitions to build the foundations for future growth amid rising uncertainty. Almost six in ten (59%) global companies are now planning to acquire in the coming year — up from 52% 12 months ago.
M.Mejtsky of Petyovsky & Partners: The Czech Republic: New Appointments Currently not Available at some Czech Embassies
In relation to finalisation of the legislative process of the Czech Immigration Law amendment, which is expected to be effective as of the 1st of September 2019, some of the Czech Embassies has temporarily stopped accepting appointment requests for submission of Employee Card applications and Long-Term Visa applications for the purpose of "Business", M.Mejtsky of Petyovsky & Partners writes.
PwC and the Urban Land Institute: Emerging Trends in Real Estate 2019: “People are beginning to think about Prague not too dissimilarly from western European markets."
In recent years investor perceptions of Prague have undergone a gradual transformation, with the Czech capital’s erstwhile emerging market status fading into distant memory, Emerging Trends in Real Estate 2019 report by PwC and the Urban Land Institute says.
Strategic Directions for Czech Economic Policy
- 1) The home of value-added manufacturing
- 2) Prague-Brno-Ostrava Creative Triangle
- 3) Health Care as an export industry
- 4) Government as a competitive advantage
In Policy Pipeline policy developments in the Czech Republic and abroad are monitored to bring better understanding of current topics and trends.