Despite a challenging market environment in 2022, Nasdaq remained a leading exchange in new listings in Europe, welcoming more than six dozen new listings, bringing the total number of companies on Nasdaq’s European markets to 1,251. Adding to Nasdaq’s European Markets listing success were key initiatives focused on retail investor education and sustainability milestones exemplifying our continued commitment to expanding market access and advancing economic progress for all.
Last year, Nasdaq welcomed 74 new equity listings to its European markets, representing an aggregated market capitalization of EUR 55 billion at listing. This included 38 initial public offerings (IPOs), raising a total of EUR 762 million.
The largest IPO by capital raised was Engcon AB (EUR 170 million), while the largest listing per market cap was the dual-listing of Finnish Sampo Group on Nasdaq Stockholm (EUR 25.7 billion).
“Despite an extraordinary and in many ways challenging 2022, with war in Europe, turbulent energy markets and rising inflation, Nasdaq´s European markets remain an attractive source of capital,” said Adam Kostyál, Head of European Listings at Nasdaq. “We continue to be the public market-of-choice for companies and investors alike across Northern Europe.”
Nasdaq’s First North Growth Market followed the Main Market success as a leading small-and-medium-sized enterprises (SME) exchange in Europe in 2022, adding 48 new SMEs to the market, finding continued success helping SMEs grow to compete on the main market.
Just ahead of the new year, Nasdaq First North celebrated its largest switch ever to the main market. Embracer, a global group of entrepreneurial businesses in the gaming and entertainment industry, switched from First North to the Main Market with a market cap of EUR 5.7 billion, growing its share price by 1,373%.
In addition to maintaining our listings leadership in Europe, Nasdaq also celebrated the launch of our European Retail Engagement Program, an important initiative aimed at improving access to the capital markets for retail and private investors. With the goal to equip retail investors of all backgrounds and ages with sufficient knowledge and skills to manage their money effectively, Nasdaq engaged a select group of third-party partnerships organizations that educate private investors on savings, trading and investments. This includes our launch of the Nasdaq Derivatives Academy in May of 2022, which has now reached over 2,000 investors.
“Our team has worked tirelessly to keep driving our technology leadership, marketplace excellence and strong commitment to sustainability in order to create a world class capital market offering for both companies and investors,” said Bjørn Sibbern, President of European Markets at Nasdaq.
As Nasdaq continued its commitment to improving financial literacy, sustainability was also top of mind for its issuers, with significant growth in our Nordic Sustainable Debt Markets and the carbon removal platform Puro.earth, of which Nasdaq owns a majority stake.
On Puro.earth, trading volumes for CO2 removal certificates (CORCs) increased by 250%, and the trading value increased by 350% compared to 2021. Meanwhile, new listings on the Nordic Sustainable Debt Markets grew by 11%, and the total volume of bonds listed on the Nordic and Baltic Sustainable Debt Markets grew by 21% to EUR 47.5 billion.
Going into 2023, Nasdaq plans to continue serving client needs, expanding market access and promoting inclusive growth while keeping an eye on market conditions.
“We hope that 2023 will bring more stability to our markets, but we will nonetheless continue to work together with our clients in order to build and further evolve some of the best- performing markets in the world,” said Sibbern.