IPO postponed

Wacker has postponed its proposed initial public offering (IPO) of shares. The German maker of compaction, concrete and demolition equipment had hoped to raise between € 80 million and € 120 million through the floatation, which was scheduled for early July. However, it has decided to postpone the IPO, citing poor stock market conditions. According to a statement from Wacker it believed an acceptable stock market valuation “could not be realised at present.”