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Credit Suisse delays real estate fund’s float due to market turbulence – Reuters.com

The logo of Swiss bank Credit Suisse is seen at a branch office in Zurich, Switzerland, November 3, 2021. REUTERS/Arnd WIegmann

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ZURICH, July 13 (Reuters) – Credit Suisse (CSGN.S) has postponed the initial public offering of its 1a Immo PK real estate fund, the bank said on Wednesday, citing current market turbulence.

Preparations for the float were largely completed, but “the market for real estate funds is currently going through a phase of high volatility and strongly fluctuating trading volumes, so that a successful IPO in the fourth quarter of 2022 cannot be guaranteed,” Credit Suisse said.

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Reporting by John Revill, editing by Rachel More

Our Standards: The Thomson Reuters Trust Principles.

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