ABB - ABB postpones E-mobility IPO due to 'challenging' conditions

ABB (NYSE:ABB) said on Tuesday it will delay the IPO of its E-mobility electric vehicles charging business, citing "challenging" market conditions, according to Reuters. "We constantly observe the market developments and intend to launch the IPO in the coming weeks subject to constructive market conditions," the company said. CEO Bjorn Rosengren said earlier this year that ABB (ABB) expected to raise at least $750M from the offering. The company also said it has not yet decided whether to spin off or sell its turbocharging business. ABB (ABB) recently reported stronger than expected Q1 GAAP earnings and a big jump in orders.

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ABB postpones E-mobility IPO due to 'challenging' conditions