German IPOs off to poor start as AlzChem Pulls its €174m deal
AlzChem, the German niche chemicals producer, has postponed its €174m Frankfurt IPO, blaming difficult market conditions.
The bookbuild, which had Société Générale and Baader Bank as global co-ordinators, was launched on Tuesday, January 27, with a price range of €20-€27 a share. AlzChem was scheduled to price its IPO on Wednesday.With up to 8.1m shares on sale, the deal would have been worth €162m-€219.5m ...
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