G-Rail, Tungsten waylaid but Evonik keeps IPO prep going

24 May 2012

Two issuers this week postponed their IPOs as market conditions once again took their toll but Germany’s Evonik might yet launch its larger and much more eagerly awaited IPO, with a deal potentially launching as soon as today (Friday).

German ECM bankers were last week reluctant to write off the chances of speciality chemicals firm Evonik in the IPO market even as other deals fell away and on Monday, the board of RAG-Stiftung, the 75% owner, allowed preparations to continue though they warned that the market conditions ...

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