Investors are becoming more selective due
to the vast number of geopolitical concerns, but pricing
remains the number one threat to the initial public offering
"The IPO market has become very
tricky," said a managing director of a global investment bank.
"My sense is the market has been price sensitive for some time
and that sensitivity is taking a while to feed through to
While deals are taking place, the real
measure of strength is whether the large ones are succeeding.
Upcoming IPOs include Funding Circle and Westwing; the latter
considered to be a test case for the strength of the market as
a whole going into next year. Initial signs are looking
Aston Martin, with shares for its IPO due to be traded this
week, had a stock price of 20.7x its first half earnings. While
the price per share has since fallen by 6.6%, the...