IPO queue lengthens but is demand there?
Another week, another sizeable European IPO with Dutch insurer Delta Lloyd’s float raising Eu1.118bn just a week after Polish energy producer PGE’s smash hit listing. However, even as German cable firm Unitymedia announced plans for an IPO before Christmas, Delta Lloyd’s pricing near the bottom of the range and poor first day performance – the stock fell 3% on its debut – have raised concerns about the strength of investor support for new issues. Are concerns justified? Turn to EuroWeek on Friday.
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