IPOs head for Europe as Sarbox hits US markets

Europe raises more new funds from initial public offerings than the US for the first time in four years

The true cost of the Sarbanes-Oxley Act for the capital markets in the US has emerged, as Europe raised more new funds from initial public offerings than the US for the first time in four years.

In its latest review of the European IPO market, the capital markets team at PricewaterhouseCoopers found that both the volume and value of European IPOs had grown substantially in 2005 and outstripped the US exchanges.

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