Investors Heard Pressuring IMC on Valuation

Investors Heard Pressuring IMC on Valuation

Equity

IMC, the restaurant holding company owned by PE firm Advent International, is heard haggling with investors on valuation for its IPO, scheduled to price tomorrow, December 17. One buysider says investors are calling for an earnings multiple well below the 12x or so the company was initially targeting in its BRL14.00-BRL17.00 range. “This may have to wait until next year if they can’t get the valuation they’re looking for,” says one investor who says he doesn’t plan to participate. Bankers off th

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