Carlyle’s Atotech to delay IPO due to coronavirus outbreak

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Carlyle’s Atotech to delay IPO due to coronavirus outbreak

Carlyle Group Inc., an American multinational private equity, alternative asset and financial services company with $201 billion worth of assets under its management as of March 31st, 2018, had reached a decision to delay the IPO (Initial Public Offering) as well as public market debut of its German specialty chemical firm, Atotech, over worries that a tempestuous demand outlook across the globe amid a coronavirus outbreak could negatively impact its public market valuation, at least five people familiar with the issue had unveiled late on Friday, the 31st of January 2020, on condition of anonymity as the sources were not authorized to speak over the issue in public.

As a matter of fact, latest Carlyle decision could underscore the scale of uncertainties whirling around the global stock exchanges, while the Wall St.’s benchmark Standard & Poor 500 had posted its steepest weekly decline since August this week.

Besides, sources familiar with the Atotech IPO process had also added on Friday (January 31st) that Carlyle became extremely protective on Atotech’s IPO over concerns that the German company’s exposure to China could hurt investors’ sentiment.

Nonetheless, Carlyle-owned Atotech, primarily engaged in research and development of specialty chemicals and equipment for semiconductors alongside printed circuit boards, had plans to kickstart its IPO as early as next week.