Biffa reduces flotation price as IPO jitters continue
Waste management firm Biffa has slashed the price of its initial public offering (IPO) in the latest example of the volatility surrounding stock market flotations.
The Buckinghamshire-based firm, the second-largest of its kind in the UK, yesterday said it was continuing with the listing, which will raise about £262 million, having cut the price to 180p per share from the 220p to 270p range.
The move comes amid market volatility and flat investor demand hampering listings, and despite the period before next month’s US general election having been expected to offer a window for IPOs.
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