The Trader 

Market Outlook: More initial public offerings (IPO) cancelled

The Trader

Last month US co-working firm called off its planned tens of billions estimated flotation on a US stock exchange as conditions weren’t favourable. Yesterday its biggest investor, Japanese funder SoftBank announced it would pay $5 billion to control 80 per cent of the firm and pay its founder off. Today in Australia Reuters reports that Southeast Asia online realty company PropertyGuru, currently owned by private equity, was cancelling its IPO due to market uncertainty. This follows last week’s A$1 billion IPO of another firm owned by KKR, lender Latitude.

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