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Don’t blame the markets for poor IPO performances

Don’t blame the markets for poor IPO performances

Don’t take your company public just before a market stumble. That’s the lesson management at Funding Circle (FCH) and Aston Martin (AML) are likely to have taken from their IPOs in the first week of October – the week in which the FTSE All-Share fell 3.5 per cent, only to be eclipsed by a 4.4 per cent tumble in October’s second week. The two companies are down 10 per cent and 19 per cent, respectively, on their IPO share prices, which had already been discounted in the run-up to launch.

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