This is certainly not a good time for those who want to list on Piazza Affari’s Stock Exchange. The agro-food group Newlat announced in recent days that it had closed the order book at the lowest price range (see here a previous article by BeBeez), while the luxury yacht manufacturer group Ferretti, after accepting a mega-cut of the price range, decided to withdraw its ipo (see here a previous article by BeBeez) and so did the leading speakers maker RCF (see here a previous article by BeBeez). All this while Apollo Global Management allows itself to buy 48.67% of Gamenet gaming and betting group at 12.5 euros per share, well below the prices of the days before the announcement, and prepares for launching a tener offer aimed at delisting the company (see here a previous article by BeBeez).
On the other hand, the moment is the worst at the international level. After the cancellation of the American mega-ipo of the WeWork unicorn, the withdrawals of the listing projects are no longer counted. While in the first nine months of the year at global level the ipo have reached just 125.7 billion dollars, with a 24% decrease compared to the same period of 2018, according to PwC, which also calculates that at European level ipos have brought home only 15.9 billion dollars, down 40% compared to the nine months of 2018.
Well, in this picture Intercos stands out with courage: with two attempts at listing that went up in smoke between 2014 and 2016, tries again and chooses the global coordinator banks (see here a previous article by BeBeez), in the hope that next year the stock market will be more willing to accept newcomers when the time is ready for the big cosmetics maker to list.