European companies account for just 7% of the global total of those planning to launch an initial public offering this year, as investor confidence in the region lags the US and emerging markets, where companies are expected to raise billions.

The outlook in Europe remains bleak with flotations worth only $1.4bn (€990,484) scheduled for the rest of 2009 out of a global pipeline estimated at $19bn, according to Thomson Reuters. This compares with 16% of the total $95.9bn raised globally last year.