The volume of initial public offerings in Europe jumped more than sixfold in the third quarter as investors lured by cheaper valuations and strengthening economies put their money to work in the region.
IPOs in Europe surged at more than double the pace of those in the U.S., according to data compiled by Bloomberg, as Deutsche Annington Immobilien SE, Germany's largest residential landlord, and U.K. property broker Foxtons Group Plc sold shares. Volume rose more than 10 percent globally compared with a year earlier, weighed down by a 40 percent drop in Asia.
Investors are returning to Europe after European Central Bank President Mario Draghi and German Chancellor Angela Merkel helped ease the region's debt crisis and end the euro-area recession. While growth prospects at companies such as Twitter Inc. are stoking interest in U.S. IPOs later this year, $1 billion-plus offerings from the U.K.'s Royal Mail Group Ltd. and London-based Merlin Entertainments Group Ltd. may get a boost from funds flowing toward Europe amid limited growth potential in the U.S., where stocks have climbed to records.
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