Don't get too excited about D Annington's IPO re-jig — it won't start a trend
Deutsche Annington's re-launched IPO last week was said by some in the market to herald a new US-style flexibility in European markets. But the deal's success is the exception, not the rule.
Just one week after postponing a €1.2bn deal, Deutsche Annington re-launched its IPO last week as a €574m accelerated transaction, at a cut price and size after it had failed to sell at the first attempt amid a tough time for its sector.
The deal was a feat for which
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