July 9, 2018 / 4:59 AM / 7 days ago

OC Oerlikon calls off drives unit IPO, blames market volatility

ZURICH, July 9 (Reuters) - Swiss industrial group OC Oerlikon on Monday put its drives unit share offering on hold, blaming adverse equity market conditions.

"Accelerated volatility since the beginning of the book building process and related sentiment in the stock market do not provide a favorable environment for a listing of Oerlikon’s Drive Systems segment," the company said, adding it would revisit the matter when the situation improves.

Reporting by John Miller, editing by John Revill

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