Europe’s IPO Market Not Yet Open to Unprofitable Tech, BofA Says

Profitability still matters when it comes to initial public offerings in Europe, even for tech startups, according to Bank of America Corp.

“Regarding IPOs of pre-break-even tech companies, we are not quite there yet,” said Jerome Renard, head of EU ECM at BofA.

Despite a tentative rebound in European IPOs in 2024, tech companies have been unable to raise money on Europe’s exchanges in two years. The most recent significant IPO in the sector was Technoprobe S.p.A., which raised more than $800 million in early 2022.

French software firm Planisware SAS postponed its listing on Euronext Paris in ...