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Byline: Nicola Hobday
LONDON ? As European initial public offerings struggle to get off the ground, Swedish engineering company Alfa Laval Group said May 14 it cut its price range by 25% and extended its offer period, blaming uncertain market conditions.
The announcement comes after a disappointing debut for British music and book retailer HMV Group plc last week. HMV set its share price at the bottom end of its price range and its shares slid 8% on the first day of trading on the London Stock Exchange. The shares are still trading at a discount to the IPO price.
Alfa Laval, which makes equipment for heating, cooling, separation and transport of …