The reduction in size and price of the initial public offering of Alain Afflelou, the French eyewear firm, has added a note of caution to the growing optimism in the IPO market.
The firm decided after consultations with investors to halve its offer to €66.2m ($58.1m) from the original €132m. Crédit Lyonnais is the bookrunner on the deal and will price shares at between €15 and €17, lower than the original target range of between €17.25 and €19.25.
