Lawyers under pressure as IPO revival collapses

Germany’s leading securities lawyers are set to come under fresh financial pressure after the predicted post-summer revival in capital market activity dramatically collapsed this month.

Advisers are already warning that the decision by European tourism giant TUI earlier this month to pull the €2.5bn (£1.6bn) float of its Hapag-Lloyd shipping subsidiary has effectively ended hopes of a fourth quarter rally in Germany’s battered equity capital markets.

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