A proposed dividend yield of 9.5% was not enough to tempt institutional investors into buying Swiss Re's reassure IPO, with the parent company cancelling the deal on Thursday morning. The failure illustrated the high selectivity in European IPOs in 2019, as did one other of last week's IPO - the float of ADDIKO BANK-which had to be restructured to get over the line. The only other deal, for Ireland's uniphar, closed successfully. The next IPOs in Europe will come in September.
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