Talanx pulls plug on IPO

David Hellier
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TALANX, Germany’s third-largest insurer, has called off plans for its €750m (£600m) IPO in Frankfurt after investors were not willing to pay the price the company had expected to achieve in the offering.

Rothschild was advising Talanx on the deal, with Deutsche, Citi and JP Morgan bookrunners.

The sudden decision to cancel the share issue might not augur well for Direct Line, the UK insurer being sold off by RBS. Insiders at Direct Line had seen parallels between the two flotations.