Argentina’s US IPO revival stalls as market rout chills debuts
Two energy firms have put plans for US initial public offerings this year on hold; Argentine stocks and bonds tumbled in recent months. Leer más
Two Argentine energy companies have suspended their plans for US initial public offerings this year as market turmoil and a decline in local asset values have dampened investor interest. Renewable-energy producer Genneia SA halted its New York and Buenos Aires listing plans, citing a low valuation caused by a sell-off in Argentine assets, while power producer YPF Luz suspended its offering after its controlling shareholder agreed to buy out a minority investor.
The setbacks reflect a broader global retreat from riskier assets and investor anxiety ahead of President Javier Milei's re-election bid. Both companies had been optimistic about their chances of listing, but market conditions have made them reconsider. Argentina has not had a US equity debut since 2019, when Vista Energy sold shares.
Despite advances in energy sector projects and international debt financing, falling share prices have made upcoming listings less appealing to their owners.
Written by urgent.news from Buenos Aires Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
