© 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.
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