Summary
A sharp drop in world equity markets triggered a host of cancellations and postponements of planned initial public offerings (IPO) in early May. Many of the proposed IPOs will remain shelved for an extended period until confidence is restored to the markets, bankers say. Most of the new equity offerings recently have found the market to be less welcoming. Essar Energy, the largest listing ever on the London Stock Exchange by an India-based company, fell 74% in its debut, after cutting the price and reducing the size of the offering to $1.95 billion from a previously announced $2.5 billion.
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Extract
Ipos Pulled Following Market Declines
A sharp drop in world equity markets triggered a host of cancellations and postponements of planned initial public offerings in early May. Many of the proposed IPOs will remain shelved fo...
See the full content of this document
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