Spanish property firm Tremon has scrapped its planned initial public offering (IPO) because investors are not willing to pay the offer price. The company postponed the IPO on two previous occasions in the hope of achieving better conditions. But Tremon has now decided that the listing cannot go ahead in the current climate as 'the discount requested by investors doesn’t correspond to the company's true value'.
Swiss real estate group Investis has boosted its real estate holdings with the CHF 139 mln (€149 mln) purchase of prime residential properties in Vaud canton.
