Ronesans cancels as broken market claims another
Ronesans Gayrimenkul Yatirim (RGY) on Monday became the fourteenth issuer to pull an IPO in the EMEA region this year, as the company declined to restructure its $300m Istanbul deal after bookbuilding closed on Friday.
The last day of bookbuilding had been hit be a 3% fall on the Turkish market and although the international bookrunners Credit Suisse and Deutsche Bank had the potential to price a restructured deal, the company said that it would not serve investors interests.
The retail tranche
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