Investor Calls For Greater Discount in Europastry IPO
- Baker’s offering was set to value it as high as €1.51 billion
- Company says it will continue to assess possibility of a float
Europastry SA considered reducing the size of its IPO in a last-ditch attempt to complete the transaction.
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A prospective investor in Europastry SA’s halted initial public offering called for a bigger pricing discount to one of the company’s listed peers.
“The discount to Aryzta AG this second time around was very small, even at the bottom of the range,” said Michael Gierse, a portfolio manager at Germany’s Union Investment, which oversees €479 billion in assets.