May 6, 2016
Deal Profile
On May 6, MONETA Money Bank successfully priced its $753m carve out from GE Capital International Holdings Corp, making it the Czech Republic’s largest IPO since New World Resources raised $2.5bn in 2008.
The bookrunners were Citi, Goldman Sachs, and JPMorgan.
As a global partner, Dealogic helped the bookrunners seamlessly execute the transaction through the DealManager network.
Key Points
- Largest IPO from an EMEA issuer this year
- Czech Republic’s second largest IPO on record, following New World Resources’ $2.5bn listing in May 2008
- Carve out from GE Capital is world’s largest from the bank sector since Citizen Financial Group’s $3.5bn carve out from Royal Bank of Scotland in September 2014; and is the second largest carve out IPO this year, following MGM Growth Properties’ $1.2bn offering in April
- Global IPO volume of $24.9bn is at the lowest YTD level since 2009 when only $4.3bn worth of deals were completed. EMEA IPO volume of $8.9bn stands at a 4 year low ($4.4bn in 2012 YTD) and accounts for 36% of global issuance so far this year (46% in 2015 YTD)
Top 3 EMEA IPOs in 2016 YTD
- MONETA Money Bank – $753m | Czech Republic | May 2016
- Parques Reunidos Servicios Centrales – $677m | Spain | Apr 2016
- VAT Group – $624m | Switzerland | Apr 2016
Top 3 Global Carve Out IPOs in 2016 YTD
- MGM Growth Properties – $1.2bn | United States | Apr 2016
- MONETA Money Bank – $753m | Czech Republic | May 2016
- CYBG – $566m | United Kingdom | Feb 2016