European IPOs pass crucial health check as sentiment improves

摘要

There were disparate outcomes for two European healthcare IPOs last week as the buyside continues to be highly selective, despite a marginal improvement in market sentiment and increased investor interest in the sector due to the pandemic. Swiss peptide specialist POLYPEPTIDE CROUP closed up 22% on its debut on Thursday after pricing its SFr736m (US$807m) SIX IPO above the midpoint of guidance. The same could not be said for German clinical and diagnostic services company synlab, which was forced to downsize its secondary tranche by nearly half before pricing its €671m float at the bottom of a €18-€23 price range.