Home / Guides / Ferrari retailer Oerlikon calls off IPO of drives unit

Ferrari retailer Oerlikon calls off IPO of drives unit



Comment on this article 

Print this article Print

Reprint Reprints

Send a letter Respond

Email Article

Share on Facebook

Share on LinkedIn

Share on Twitter

ZURICH — Industrial organisation OC Oerlikon became a third Swiss association this year to postpone a designed batch marketplace inventory when it halted a share charity for a drives section on Monday.

Oerlikon blamed inauspicious batch marketplace conditions for a preference to retreat a spinoff of a unit, to have been called GrazianoFairfield.

It had designed to boyant a business, that creates transmissions for sports cars including Lamborghini and Ferrari to concentration on a categorical surfacing and weave machine business.

But Oerlikon pronounced sensitivity had increasing after it began seeking meddlesome buyers, ensuing in an inauspicious situation.

This outlines a third time this year that a association has ditched an already-announced IPO, following HNA Group units Swissport Group’s and Gategroup’s apart decisions to postpone share floats.

“We will serve deposit in a Surface Solutions and Manmade Fibers businesses, both organically and by targeted acquisitions and will revisit a inventory of a Drive Systems Segment when marketplace conditions are appropriate,” CEO Roland Fischer pronounced in a statement.

Trading had been designed to start on Jul 11.

The expostulate systems shred is Oerlikon’s second-biggest after a aspect solutions business, though a handling margins have been reduce than those in Oerlikon’s aspect solutions business that a association sees as a future.

Despite a inauspicious conditions Oerlikon cited, countless other companies have succeeded in floating shares this year, with a SIX Swiss Exchange final month observant there had been some-more listings by a initial half of 2018 than in all of 2017.

Contact Automotive News


Comment on this article 

Print this article Print

Reprint Reprints

Send a letter Respond

Email Article

Share on Facebook

Share on LinkedIn

Share on Twitter

Check Also

Germany to strech EV aim after than planned

   Print  Reprints  Respond BERLIN — Germany will expected have to check a aim of …

Leave a Reply

Your email address will not be published. Required fields are marked *