Saturday 15 December 2018
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albawaba - 2 month ago

Abu Dhabi Cancels Cepsa s IPO as Investors Recoil

“Recent international economic developments have created uncertainty in international capital markets,” Cepsa, which is controlled by Abu Dhabi’s state-owned Mubadala Investment Co. The final price for the IPO was set to be decided tomorrow. Bankers scrambled last week to save the IPO, expected to the largest by a European oil company in more that a decade, as investors balked at Mubadala’s valuation. The sale coincided with a rout in the global equity market, with European stocks down to the lowest since 2

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