Big German funds playing hardball on IPO pricing

Newswire

By Marius Bosch FRANKFURT, May 27 (Reuters) - Germany's big investment funds are taking a hard line in pushing for the cheapest possible issue prices in new stock sales, helping compound an already weak market for new listings, bankers said on Thursday. Poor market conditions and price expectations that were too low forced German car parts and accessories firm Auto-Teile-Unger (ATU) to postpone its planned June 16 flotation on Wednesday, the third firm to ditch its IPO plans so far this ...

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