Now the ash is settling on WE Soda’s bombshell decision to scrap its IPO yesterday, two schools of thought are emerging.
The company and its advisers insist that this was a well run business that had its flotation plans unfairly scuppered by London’s “extreme investor caution”. Strong words indeed. They say that the valuations being offered them by the City were 35% below their own expectations, a discount that was simply too big to swallow.
