Monday, September 27, 1999
Germany's love affair with high-tech, high-growth companies may be going off the boil. Evotec BioSystems AG last week pulled its planned Neuer Markt IPO, along with four other market hopefuls in high tech, citing poor market conditions. Indeed, the Frankfurt growth company exchange, which not so long ago was being held up as a European role model, has taken such a battering in recent months that more than half the companies listed are now trading at discounts to their launch prices.
"After taking advice from our global coordinators we have decided to hold off our plans for an IPO," Evotec spokesperson Ann Hennecke told Ebb & Flow. "We currently have DM25 million