Cornerstones go mainstream for European IPOs

corner_stone_575x375_adobe_21Jan_2021.jpg
By Sam Kerr
21 Jan 2021

Companies are increasingly turning to cornerstone and anchor investors to support their IPOs across the price range before deals are launched. While the phenomenon is common in Asia and the Nordic markets, it has been rarer in UK and most continental European deals until now, but the trend is turning into the norm, reports Sam Kerr.

Cornerstones are named investors announced early in an IPO process that are committed to buying stock at any price throughout a price range. Investors make this commitment in exchange for a guarantee of getting their entire order of shares allocated to them.

Anchor investors are similar in that ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial

Want to learn more? View subscription options