Alliance, Kagazy IPOs flop: emerging share rout or specific flaws?

London Stock Exchange investors gave Kazakh issuers a rough ride this week, as Alliance Bank priced its $704m IPO at the bottom of the range and suffered a fall on its debut.

  • 20 Jul 2007

Packaging and property company Kazakhstan Kagazy had to lower the price of its $275m IPO below the original range.

A banker involved in one of the deals said investors had become increasingly price-sensitive toward emerging markets stocks. But bankers away from the transactions said specific concerns about the two ...

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5 HSBC 81,053.20 424 5.08%

Bookrunners of All Syndicated Loans EMEA

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5 Commerzbank Group 7,837.68 40 4.93%

Bookrunners of all EMEA ECM Issuance

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5 UBS 2,241.39 12 5.69%