Another one bites the EM dust: Aksa IPO falls short
Turkish utility Aksa Enerji this week became the latest emerging market hopeful to disappoint. Its IPO raised a quarter of its $350m target –– only one week after Poland’s Kulzyk Oil cut its float in half. But EM bankers aren’t giving up, launching the $900m Johannesburg listing of Life Healthcare and the IPO of Brasil-focused Ferrous Resources. Do investors really want more emerging market exposure? Read EuroWeek on Friday.
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