Amsterdam: a growing financial hub
More and more companies are choosing to have their initial public offering (IPO) on Amsterdam’s Euronext stock exchange, according to the Financieele Dagblad (Dutch link). This uptick is due to factors such as a favourable stock-market climate and the strong performance of the Dutch economy.
The latest newcomer to Euronext is the Dutch chemical company Avantium, which has developed technology for making plastic from sugars rather than petrochemicals. Avantium's Euronext IPO is scheduled for 15 March.
Avantium is the second company this year to announce a potential Euronext IPO. They were preceded by construction company Volker Wessels, which announced a possible IPO in January. Throughout 2016, companies that had IPOs on Euronext in Amsterdam included insurance company ASR, fitness club chain Basic-Fit, Philips Lighting and meal delivery company Takeaway.com.
The Amsterdam Stock Exchange, established in 1602, is still based in the heart of the city centre and has since become part of Euronext NV, a European stock exchange with seats in Amsterdam, Brussels, London, Lisbon and Paris.
A long history of financial services
Amsterdam is a key financial hub that attracts global institutions and top international talent. Thanks to the city's rich heritage as a financial centre, it was home to the world’s first central bank and stock exchange during the Golden Age, and it has maintained its importance over the centuries. Today, Amsterdam is home to about 50 international banking chains, including ICBC, Deutsche Bank, China Construction Bank, Bank of Tokyo-Mitsubishi UFJ and the European Investment Bank. More than 20 major insurance companies are based here as well, and the city is also one of the world’s largest trading centres for derivatives. The combination of accountancy firms, insurance companies and pension funds based in the region help to spur economic growth across all major industries.