Spain’s Cepsa postpones IPO, blames market conditions

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MADRID

Oct 16, 2018-

Spanish oil company Cepsa on Monday said it had postponed a market listing planned for Thursday, blaming global market conditions. The firm said in a statement that Abu Dhabi-based owner Mubadala had “decided to desist” on a planned market listing, citing “the current state of international capital markets.” The announcement comes a day before the company was to announce its definitive listing price. State investor Mubadala, which has since 2011 held a 100 percent stake in Cepsa, had announced a month ago it intended to sell off a 25 percent share to raise around $2.3b. (AFP)

 

Published: 16-10-2018 10:44

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