Posted on Oct 4, 2021 at 7:24 amUpdated Oct 4, 2021, 7:47 AM
Thursday evening, Icade Santé gave up listing at the last minute. “Throwing in the towel when the constitution of the order book has ended is extremely rare” explains an investment banker. But, it does happen sometimes. The previous week, German Babbel, specializing in online language learning and Occlutech, which treats heart disease, gave up their entry into the markets – for the first in Frankfurt and the second in Stockholm. Last spring in Paris, PHE (Parts Holding Europe), the French specialist in the distribution of automotive spare parts, had also declined. It was his second attempt.
For primary market players, it’s a cold shower. In Paris, since the beginning of the year, IPOs have followed one another at an unprecedented rate since 2015. 21 companies have taken their first steps there, against only 8, in total, in 2020. They have raised in total by of 3 billion euros. Among them are four SPACs, those empty shells that aim to acquire companies.
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