Nordex, the largest initial public offering on the Neuer Markt so far this year, has been forced to cut its indicative price range by 18%.
The German wind turbine manufacturer's IPO is being led by Dresdner Kleinwort Benson and WestLB Panmure. WestLB is also leading the Neur Markt offer for Farmatic Biotech, another German renewable energy firm, which is due in April.