The IPO market fell apart this week, they’ve been cancelling all over.
We’ve counted 10 so far:
- Giti Tire — China’s largest tire maker, canceled/postponed Monday
- Tian Yuan Mining Ltd. — Chinese iron ore producer, canceled/postponed Tuesday
- New Century Shipbuilding — Chinese shipbuilder, canceled/postponed Tuesday
- GSW — Berlin based real estate company, canceled/postponed Wednesday
- Americold Realty Trust — Real estate investment trust, canceled/postponed Thursday
- Swire Pacific — Hong Kong conglomerate, canceled/postponed Thursday
- Smile Brands Group — Support services for U.S. dentists, canceled/postponed Thursday
- Telegent Systems — U.S. mobile T.V. chip vendor, canceled/postponed Thursday
- Ryerson Holdings — U.S. metals processor, canceled/postponed Friday
- MIE Holdings — Chinese oil exploration and production company, deal officially still happening but said to be questionable now.
It looks like IPOs are suddenly finding that they can’t get the investor demand/valuations they thought they could achieve from the market not too long ago.