2015 has been an eventful year for Fogel & Partners as well as for the stock exchange. We started the year by establishing an office in Gothenburg through Jan Edshage who joined the firm as Senior Advisor. Having a presence in one of Sweden’s leading industrial centres enables us to better meet the demand for strategic communications advisory throughout the country’s western region.
Fogel & Partners has had a busy year with many new complex assignments and are pleased to note that we have strengthened our position in the market. There have been a record number of IPOs and investor appetite has been strong with many listings being over-subscribed. Avanza writes that by the end of November, 64 new companies had been listed this year and of those listed on the main market, eight out of ten have outperformed index since listing. Amid the heated discussions about limiting profits in the welfare sector, an interesting development is the successful listings of Attendo and Capio. Who would have predicted that development at the beginning of the year?
Despite the strong equity market, M&A activity has also had a relatively strong year. According to a report by EY, the third quarter of this year alone saw 36 M&A transactions and the number of transactions during the first three quarters of this year totalled 107. This can be compared to 115 completed transactions during the same period last year. Last week’s public bids for IFS and Proffice further confirms this trend.
As 2015 is coming to a close, we look forward with anticipation to an exciting 2016. Will the strong market sentiment persist and bring with it a steady stream of new IPOs and transactions? From our perspective there are no indications of a slowdown, rather the contrary.
Christmas is the time when family and friends gather to celebrate the holidays together. It is also a time of contrasts; “Stockholm has become cold,” writes charity organisation Stockholms Stadsmission. Therefore, we have continued our tradition of donating to Stockholms Stadsmission to support their work for a more humane city.
Merry Christmas and a Happy New Year!
Fogel & Partners