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Dutch omnichannel retail player Coolblue has decided to postpone its initial public offering and listing of shares on Euronext Amsterdam. According to the company, current market conditions create uncertainty among investors. The public offering will be postponed until further notice.
A week ago, Coolblue announced that it was ready for an initial public offering and listing of shares on Euronext Amsterdam. The launch was supposed to happen this month. But now, the company says that current market conditions cause uncertainty among investors, especially towards IPOs in the ecommerce space.
Longer wait for extra funding
The company was aiming for a stock market value of several billion euros. Coolblue has made some large investments in the last two years, and launching on ENX will fuel further growth and give the financial flexibility to expand further geographically. Now, the company will have to wait longer for these extra funds.
Coolblue is expected to make less profit this year, as was written by Dutch newspaper FD. The company is dealing with staff shortages and has to spend money to attract more employees.
‘We remain committed to pursue our strategy.’
“I would like to thank everyone at Coolblue and HAL for the work that has gone into the preparations over the last period. Together, we remain fully committed to pursue our strategy and continue the successful Coolblue journey in the Netherlands, Belgium and Germany”, said Pieter Zwart, CEO and founder of Coolblue.
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