Issuers look to the pink herring solution

Conergy Share price and volume

INVESTOR APPETITE FOR new issues is strong but selectivity means that price is a highly sensitive subject. Block trades are still being priced poorly, with expensive consequences for over-eager banks, but mispriced IPOs could become an endangered species in Europe thanks to a simple change in the process pioneered in Germany that is almost too basic to be called an innovation. The German IPO market has been notoriously difficult since the dot com bubble burst and it has only been 12 months since German semiconductor makers X-Fab and Siltronic embarrassingly failed to get their IPOs off the ground.