IPO price cut for UAE’s Finablr
US-China trade war gets in the way again
The US-China trade war has not been kind to markets around the world. It affected the devaluation of Uber’s IPO shares two weeks ago, and have now affected UAE’s Finablr IPO.
Granted it might not be the best time to go public for any company, many cannot simply revert from the move.
The full deal size of 192.5 million for the initial public offering includes a revised base deal size of 175 million shares and 17.5 million of over-allotment option shares.
Finablr was anticipating share price to be between 210-260 pence before the trade war. It had been pulled down to 175 pence per share.
Dubai and Abu Dhabi stock markets also also steep declines due to market uncertainty.
The trade was has been escalating with no truce in the horizon. Huawei ban is a significant move by the US and we're yet to see a retaliatory act by China. If this continues to escalate, the future of world trade would be changed for the years to come.
Read more about this here.
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