Two large emerging market flotations this morning fell victim to drops in developed economies' blue-chip indices, as a Russian bank postponed its issue and a Chinese energy company cut its float size.
This morning Russian lender Sberbank announced it would delay a $1.5bn (â¬1bn) London share sale to the third quarter, according to Russian daily Kommersant, citing head of planning and strategy Dmitry Tarasov. The bank has postponed plans for the sale, which could have launched as early as next month, following the sharp fluctuations in its share price after global equity indices plummeted last night.
