Many corporations are reluctant at present beyond the IPO .
HB FRANKFURT. A good indicator of this are IPOs. Good is the environment in the financial markets , many companies are entering the stalls , the prospects are uncertain , however , reluctant to corporations out of the IPO – or just say entirely. Just as Intesa Sanpaolo .
Italy’s largest retail bank has now called off the target for June initial public offering of its asset management unit Fideuram . As a reason called the Institute to the difficult market situation. A new date was not announced , however . The bankers initially play for time. In February, plans for an IPO , valued at three billion euros division had been announced. The issue would be the greatest have been in Italy for four years and would have to strengthen core capital of the bank.
Tauron example : the second largest Polish supplier is indeed the end of June as planned to go public . A success story , however, is not there yet . The issue price per share is only 0.57 zloty, as Finance Minister Aleksander informed degrees. The price was set at the lower end of the previously indicated range.
The demand of institutional investors , in view of concerns about the recovery in Europe failed unexpectedly weak, said degrees. However, should the 30th for the be planned initial public offering in June the fourth largest in Europe. Overall, the IPO, about € 1.1 billion into the state coffers flush . PZU , the Polish suppliers had taken in its IPO last month, some two billion euros. Poland plans to bring a good half of his Tauron shares on the stock market . The country will reap from privatization of state holdings in total six billion euros in order to relieve his badly battered by the economic crisis revenue.
Or the example of KKR : The U.S. investment company will postpone its planned capital increase of $ 500 million expected . The rumored in informed circles . The capital increase, which would serve to fund further expansion and potential acquisitions will depend on the further development of the market. "It will be difficult for KKR , attract buyers , "said David Menlow , president of IPOfinancial.com . "Investors eyeing the entire industry with skepticism . "