A web-based survey of more than 40 European institutional investors by investment bank Jefferies shows most -- 83 percent of those who responded -- are not expecting a re-opening of the IPO market in the UK and Continental Europe before the middle of 2010.
Only 23 percent of the analysts, portfolio managers and dealers surveyed reckon the IPO market will re-open by the end of this year.
Seems the world is still split on what type of companies will be floated though:
"40% of respondents believe that classic growth stories, similar to the deals priced in the US with their tech themes, will be best received at the early part of the cycle. However, 46% believe that more defensive growth companies will dominate."
Some other interesting tidbits: A third of those polled said they would only buy shares in the IPO of a profitable company, half think GDP growth is a pre-cursor to IPO activity taking off again and liquidity is key, with an expected free float of at least $100 million the starting point.