Another IPO falls and more at risk as market turmoil hits

worried traders
By Andrew Griffin
16 Oct 2014

UK challenger bank Aldermore became the latest victim of plunging stock markets this week, as bankers became increasingly concerned that conditions could leave ECM barren in the coming months and lead to the cancellation of yet more deals. The spotlight has now turned to another challenger bank, Virgin Money.

Aldermore's price range — released at the very beginning of the recent decline in share prices — meant that the deal was stuck at that valuation even as peer valuations collapsed, said bankers.

"Due to the recent deterioration of global equity markets, Aldermore’s board and shareholders have elected not ...

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