ISS and Enel to defy poor IPO performance
Goldman Sachs and Morgan Stanley have been mandated on the IPO of Danish facilities management firm ISS while Italy’s Enel Green Power this week confirmed plans for a $3.8bn float. The deals are coming despite growing buy-side dissatisfaction after the poor performance of recent listings. But European IPOs have gained 6.1% this year, bankers argue, compared to a 1.7% decline of the EuroStoxx 600. Are investors buying into this argument? Read EuroWeek on Friday.
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