The success of two accelerated bookbuildings in Sweden and the Netherlands demonstrate the continuing strength of quickfire secondary sales in Europe as the new issue market struggles.

Morgan Stanley and Carnegie raised Skr4.16bn (€452m) for Telia on Wednesday as the Swedish telecoms carrier halved its stake in Eniro, its former directories subsidiary. On Tuesday, ABN Amro Rothschild raised €72.3m for Fugro, the Dutch geological research firm. The high demand led to it on Wednesday exercising the greenshoe, the option to sell more paper, raising the total amount to €84m.