European IPOs in crisis after ISS postpones

18 Mar 2011

Goldman Sachs and EQT, the private equity owners of Copenhagen-based global cleaning services firm ISS, dealt a hammer blow to Europe’s IPO market on Thursday evening with a last-minute decision to postpone a Dkr13.3bn ($2.5bn) new listing which took even some of the syndicate members by surprise.

The postponement — blamed on market volatility — will have repercussions for other issuers as it came at the end of a day in which stocks in Europe had rebounded 2.4%, and with US markets up around 1.4%, following sharp falls earlier in the week prompted by the ...

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