Pain for Novares as volatility sinks its IPO

French car parts maker Novares has pulled its €260m IPO on Euronext Paris as global equity market volatility meant that the deal could not be achieved at a level which was in "the best interests" of the company.

  • By Aidan Gregory
  • 14 Feb 2018

HSBC and Natixis were global coordinators, Société Générale bookrunner on the deal, which was pulled late on Tuesday.

The size of the company and the IPO made it difficult to get the deal done at an acceptable price in the current choppy markets, according to the banker involved.

"There was ...

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