Feb 5, 2020 - Economy & Business

Coronavirus outbreak threatens some IPOs

Dan Primack

Illustration: Aïda Amer/Axios

PT Softex, an Indonesian sanitary product maker backed by CVC Capital Partners, may postpone its local IPO because of coronavirus concerns, per Bloomberg. This comes just weeks after Atotech, a German chemicals group owned by The Carlyle Group, delayed its U.S. IPO for similar reasons.

Why it matters: The fear and supply chain challenges are real, as are the difficulties in setting up travel and meetings with prospective Chinese investors. PT Softex, which seeks to raise upwards of $400 million, also has the added challenge of a soft Jakarta stock market.

The bottom line: "Softex, which was set up in 1976, sells its products in more than 35 countries, including developing economies where clean feminine-hygiene products are often considered luxury," Bloomberg reports.

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Axios

Coronavirus cases rise as 14 American evacuees infected

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's NHC; Note: China refers to mainland China and the Diamond Princess is the cruise ship offshore Yokohama, Japan. Map: Danielle Alberti/Axios

14 Americans evacuated from the Diamond Princess cruise ship tested positive for the novel coronavirus before being flown in a "specialist containment" on a plane repatriating U.S. citizens back home, the U.S. government said early Monday.

The big picture: COVID-19 has now killed at least 1,775 people and infected more than 70,000 others. Most cases and all but five of the deaths have occurred in mainland China.

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A medical worker walks out of a hospital in Wuhan, China, on Jan. 27. Photo: Feature China/Barcroft Media via Getty Images

The spread of the coronavirus in China has raised concerns about the pharmaceutical industry's global supply chain, STAT reports.

Between the lines: China produces a large portion of the ingredients used to make drugs. As the coronavirus spreads and sends China increasingly into lockdown, it's causing experts to question whether the supply chain is stable.

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The coronavirus is infecting everything in the energy sector

Illustration: Aïda Amer/Axios

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Go deeperArrowFeb 7, 2020 - Energy & Environment