European venture-backed companies completed a total of 91 IPOs in 2006, reaching the highest annual level since 2000 (183 IPOs) and outpacing US liquidity activity in the same period, according to the European Liquidity Report from Dow Jones VentureOne. The total amount of capital raised by these IPOs, however, reached only €1.75bn, a 19 per cent decline from the €2.16bn raised by IPOs in 2005.
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