Tough IPO conditions force pricing cuts

Tough conditions in the IPO market have meant that many businesses are attracting investors at the lower end of indicative price ranges. C&C Group has priced at the bottom of its range and Austria Micro Systems has been forced to cut its price by 40%. C&C priced at E2.26 compared to a bookbuilding range of between E2.26 and E2.74. Austria Micro Systems cut its range to between SFr36 and SFr42 having previously intended to price between SFr53 and SFr68.

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• UK / Ireland