Companies worldwide are being forced to slash the size and price of multimillion-dollar stock market debuts as volatility takes hold and investors threaten to shun high valuations.
Several initial public offerings in the past week alone have been scaled back or priced below expectations, with some companies shelving their plans completely as the markets have become more volatile.
Ironwood Pharmaceuticals of the US, which is developing a treatment for chronic constipation and irritable bowel syndrome, priced its IPO at $11.25 per share last week, well below the $15-$17 range intended.
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