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Investing.com -- German pharmaceutical company, Stada Arzneimittel AG’s initial public offering (IPO) has been delayed until September by its private equity owners, Bain Capital and Cinven, according to Bloomberg News, citing individuals familiar with the situation.
The delay in the IPO is a response to recent market fluctuations. The private equity owners initially planned to commence the share sale this week. The identities of the individuals providing this information remain anonymous due to the confidential nature of the details.
Stada was expected to achieve a valuation of approximately €10 billion ($10.9 billion) from the anticipated offering, according to Bloomberg News. The company aimed to generate about €1.5 billion of new capital from the IPO, in addition to any reduction from its private equity owners, according to those knowledgeable about the situation.
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