UPDATE 1-Global Fashion Group lowers IPO offer price to 4.50 euros a shr [Reuters]
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Source: Reuters
UPDATE 1-Global Fashion Group lowers IPO offer price to 4.50 euros a shr - Reuters 2 Min Read * Global Fashion Group cuts price range from 6-8 euros * Company cites market conditions for range cut * Still aims to complete IPO (Adds detail, comment from Global Fashion Group) BERLIN, June 26 (Reuters) - Global Fashion Group (GFG) on Wednesday cut the price of its planned initial public offering (IPO) to 4.50 euros ($5.12) a share in a last-ditch effort to salvage its stock market listing. GFG, in consultation with its bookrunners, reduced the offer price to 4.50 euros per share from an initial price range of 6 to 8 euros. Asked by Reuters about the reasons for the step, a spokeswoman cited “current market conditions” but added that pursuing the IPO was still the company’s plan. On Tuesday, Global Fashion Group said it extended the offer period to June 28, and sources told Reuters that cancelling the listing had also been discussed. The sources also said that investors had expressed scep
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