|How similar are
new listings, really?
In-house counsel at Europes investment banks are
complaining that equity advisers are being needlessly difficult
on IPO negotiations potentially scuppering deals.
The investment advisers working for companies looking to
list are pushing particularly hard on clear markets provisions,
among others. This clause ensures that the lead arrangers do
not help similar companies list within a certain period either
side of the deal, which might distract market attention or
dilute potential investment.
Theyre making a process complicated that was