Triton Pulls Listing of Gearbox Maker Renk on Volatile Markets
- Tank component maker was due to start trading Oct. 5
- Renk’s postponement follows Schott Pharma’s €813 million IPO
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Triton postponed the planned share sale of military gearbox maker Renk AG after a global stock market rout over the past few days.
A listing of Renk, which was due to start trading Thursday, remained an option, according to a statement late Wednesday. Investment company Triton bought the industrial-equipment maker in 2020 when it had a market value of about €750 million ($789 million).