Asian bankers ready for nCov deal droughts

Several auctions and potential Chinese IPOs are being delayed or re-assessed.

Asian bankers are bracing for a deal drought as key events have been postponed amidst the ongoing coronavirus outbreak, Reuters reported.

Several auctions and potential Chinese initial public offerings are being delayed or re-assessed.

Baring Private Equity Asia is expected to extend the bidding deadline for the sale of its Shanghai-based packaging business HCP, whilst the sale process of Singapore-based Chinese medicine firm Eu Yan Sang is likely to be postponed.

There is also a possibility of a company’s outlook worsening due to the virus, putting concern on investors in IPOs. American private equity group Carlyle has deferred the US IPO of its German specialty chemicals arm Atotech, fretting that the outbreak would hurt its valuation.

Here’s more from Reuters.

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