Dual track embedded in Europe's IPO market

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Dual track embedded in Europe's IPO market

NYSE_stocks__PA_230x150
(190712) -- NEW YORK, July 12, 2019 (Xinhua) -- Electronic screen shows the closing numbers at the New York Stock Exchange in New York, the United States, July 11, 2019. U.S. stocks ended mixed on Thursday, as investors digested a batch of key data. The market also continued to be encouraged by greater hopes for future rate cuts following the U.S. Federal Reserve chairman's monetary policy testimony. The Dow Jones Industrial Average was up 227.88 points, or 0.85 percent, to 27,088.08. The S&P 500 rose 6.84 points, or 0.23 percent, to 2,999.91. The Nasdaq Composite Index dropped 6.49 points, or 0.08 percent, to 8,196.04. (Xinhua/Wang Ying) | Wang Ying/Xinhua News Agency/PA Images

Dual track processes, where companies explore M&A options alongside a public market listing, have become more common on both sides of the Atlantic in recent years and are now an embedded feature of equity capital markets. As private capital markets continue to grow, at the expensive of public equity markets, dual track is leading to fewer and fewer listings.

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