Solar power shines as emerging IPOs go dull
Shares in SMA Solar have gained 15% since they began trading in Frankfurt on Friday, showing that investors are still open for renewable energy stocks. Recent emerging market listings have fared less well. Polish chemical maker Zaklady Azotowe Tarnow has lost 24.4% since its $135m Warsaw IPO last week, putting a question mark over Poland’s planned privatisations. Ukrainian oil explorer Cadogan Petroleum’s shares have fallen 20% since floating. Read EuroWeek on Friday for ECM specialists’ perspective on the prospects for Europe’s IPO market.
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