IPO market grinds to a halt amid Ukraine invasion volatility

IPO market grinds to a halt amid Ukraine invasion volatility

Bloomberg: Russia’s military attack on Ukraine has effectively shut the market for initial public offerings in Europe and the US, just as bankers were gearing up for a busier March after a slow start to the year.

Among the large IPOs set to kick off in the coming months in Europe were Thyssenkrupp AG’s electrolysis plant business Nucera, Eni SpA’s renewables division Plenitude and Olam International Ltd.’s food unit.

But companies were already struggling to sell shares given the heightened market volatility triggered by tightening monetary policy. Now the escalating conflict in Ukraine adds to the darkening backdrop, making it unlikely big offerings can go ahead in the next few weeks.