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- Title
IPO plans sour on both sides of the pond.
- Authors
Mitchell, Peter
- Abstract
The article focuses on several biotech companies on both sides of the Atlantic that had to cancel their initial public offerings (IPO) during the second quarter. This is because of lack of investor confidence. But companies that cannot wait to list because they are under pressure to provide an exit to their original investors have lowered their expectations and cut their pricing by up to 60% to float on the stock exchange. Some insiders predict that the situation will not improve until after the U.S. elections in November 2004. Institutional investors are preferring to sit back and assess their current investments rather than looking for new IPOs.
- Subjects
BIOTECHNOLOGY industries; GOING public (Securities); INVESTORS; CAPITALISM; MARKET erosion; BUSINESS enterprises
- Publication
Nature Biotechnology, 2004, Vol 22, Issue 8, p929
- ISSN
1087-0156
- Publication type
Article
- DOI
10.1038/nbt0804-929