The group has written again to 150 leading UK institutions and brokers, but has now attacked what it calls the financial disincentives of participation.
Greenpeace previously raised environmental concerns when EVC's pathfinder prospectus was published earlier in the week.
A spokeswoman said: 'We are appealing to institutions' wallets. Their concern is finance, not environment.'
Greenpeace wants the flotation derailed, but admits this is unrealistic.
Limiting money attracted and raising public awareness is the principal goal, it says.
The action group's latest missive to the institutions focuses on EVC's vulnerability if tougher regulatory restrictions in countries such as Germany and Austria spread.
It also contends that PVC demand in construction could suffer if insurers raise premiums for PVC-laden buildings. Greenpeace claims that when PVC is burnt, either in production or disposal, it releases dioxins and toxic compounds.
EVC is being sold by ICI and EniChem of Italy.
An EVC spokesman said Greenpeace's move was 'subjective and opportunistic'.Reuse content