Evonik cancels, says gap unbridgeable

GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

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Evonik cancels, says gap unbridgeable

The cancellation of the Evonik IPO on Monday wasn’t a surprise for the new issues market but it was a disappointment. It re-opened old wounds – around the efficacy of advisors, the pricing expectations of political issuers and the structure of IPOs. But most of all it left the market bereft of the chance of new deals until after the summer break.

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