Investing.com - Financial Markets Worldwide
🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Renk Group postpones Frankfurt IPO due to market volatility

EditorPollock Mondal
Published 10/05/2023, 02:40 AM
© Reuters.

German defense entity, Renk Group, has postponed its initial public offering (IPO) on the Frankfurt Stock Exchange that was initially set for Thursday. The decision was made in conjunction with its Triton-owned selling shareholder, Rebecca BidCo, in response to volatile market conditions.

Renk Group's IPO, which was estimated to raise between €405 (€1 = $1.05) million and €486 million, may be rescheduled at a later date. The shares involved in the IPO - a total of 27 million - were previously priced at €15 to €18 each.

The decision to defer the IPO comes as a cautious response to the current market instability. The move is seen as a strategic step taken by Renk Group and its selling shareholder, allowing them to potentially capitalize on more favorable market conditions in the future.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.