Initial public offerings have begun to show signs of return as an exit option for private equity with a 12% rise in European IPO values in the third quarter coinciding with the first private equity-backed listing worth more than $1bn (€678m) in more than a year.

European IPO values rose by 12% to €1.8bn in the third quarter from the same period last year, according to financial advisory firm PricewaterhouseCoopers. The firm's quarterly IPO review suggested investors, who mainly put their money into listed companies in the first half of the year, have started to "consider the IPO market with more confidence".