By McCord Pagan (July 29, 2021, 2:12 PM EDT) -- Vehicle battery manufacturer Clarios on Thursday delayed its $1.67 billion initial public offering due to "market volatility," roughly a week after starting its roadshow.
In a short statement, the Milwaukee, Wisconsin-headquartered company said it would keep the markets apprised of its next steps after launching its roadshow for the offering on July 20, which was supposed to be guided by Davis Polk and underwriters' counsel Cleary Gottlieb.
"Clarios will reassess the market conditions in the coming months and will keep the market informed," it said in the statement.
Clarios International Inc. had outlined a mixed offering, featuring common shares and mandatory convertible preferred stock as well as a...
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