European companies confront IPO risks as Renk cancels float

FRANKFURT/LONDON - Buoyed by positive investor feedback and growing optimism around new stocks, German gearbox supplier Renk was on track to make its Frankfurt market debut in early October.

It is planning to raise around 1 billion euros from the share sale, the person added. The company did not respond to a request for comment. Renk in a statement on Wednesday evening cited a "clouded" market environment for its decision to pull its planned listing, which would have given it a potential valuation of up to 1.8 billion euros.

These experiences so far show that investors are only willing to take bets on new companies if they are deemed to be "must-own" stocks or shares are offered at a significant discount, a European fund manager said. Perfumery chain Douglas and long-distance bus operator Flix are considering IPOs in Germany next year. German shoe brand Birkenstock has chosen New York for its billion-dollar issue.Here's where Wall Street strategists see the stock market headed next after a brutal September

These dividend stocks have the potential to generate decades of income, and they're all cheap right now to boot! The post 3 Cheap Dividend Stocks for Decades of Tax-Free Income appeared first on The Motley Fool Canada. -Exxon Mobil is in advanced talks to acquire Pioneer Natural Resources in a deal that could value the Permian shale basin producer at about $60 billion, people familiar with the matter said on Thursday.

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Birkenstock the latest shoe IPO to drop in a tough marketExplore stories from Atlantic Canada.
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