Deals

Global Equity Rout Derails IPOs From Spain to Hong Kong, India

Cepsa, Lodha put listing plans on hold amid market volatility
Porsche’s CFO says listing could unlock $81 billion valuation

A monitor displays stock market information on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Thursday, Oct. 11, 2018. U.S. stocks fell for a sixth day, extending the longest losing streak of Donald Trump's presidency, as energy shares plunged and a rally in tech failed to lift the broader market.Photographer: Michael Nagle/Bloomberg

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By Chitra Somayaji

October 15, 2018 at 9:34 AM UTC

Updated on

October 15, 2018 at 11:45 AM UTC

This article is for subscribers only.

The volatility in global equity markets derailed more companies’ plans for initial public offerings as stocks in Asia and Europe dropped on Monday and U.S. equity futures pointed to further declines.

Abu Dhabi on Monday shelved plans for an initial public offering of a 25 percent stake in Spanish oil refiner Cepsa as investors balked at the valuation in what would have been Europe’s largest oil IPO in a decade.