Spanish petrochemical corporation Cepsa postponed IPO

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Spanish petrochemical corporation Cepsa has postponed initial public offerings due to the situation in global stock markets under pressure in the context of ongoing trade disputes between the US and China, as well as due to Brexit uncertainty and rising interest rates. UAE investment fund Mubadala, which owns Cepsa, intended to sell 25% of the corporation. It was expected that during the IPO, which was to be the largest for an oil company in 10 years, it would be possible to attract about 2 billion euros. It is reported that if more favorable conditions develop in the international capital markets in the future, Mubadala will be able to return to the stock market.

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