Three deals fall as issuers baulk at picky investors’ pricing

Three deals in Europe’s bulging IPO pipeline were pulled this week as issuers baulked at the softening valuations demanded by the region’s investors. Deals for budget airline Wizz Air, healthcare firm BBI Diagnostics and Nordcap Offshore were all cancelled at key stages in bookbuilding as it became more and more difficult to find satisfactory valuations for small cap firms.