IPO market feels the mid-cap blues as PSB takes different option
The fragility of Europe’s IPO market was underlined this week as a succession of small and mid-cap deals delivered at best uninspiring news. ECM bankers largely brushed off the disappointments, looking forward instead to a better reception for large-cap offers from Telefonica Deutschland and Megafon and preferring to focus on recent successful deals such as those for Direct Line and Talanx.
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