Cepsa float fail could jeopardise other energy listings | Reuters:
The shelving of Spanish energy company Cepsa’s initial public offering (IPO) may damage prospects for a string of oil-related companies planning to go public.
Returning Cepsa to the Madrid stock exchange this week in a flotation valuing the firm at up to 8 billion euros ($9.3 billion) had been expected to test investor appetite for energy listings amid resurgent oil prices.
But the company, owned by Abu Dhabi’s Mubadala, postponed the IPO on Monday after a tough book-building process.
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