The express service provider is postponing its IPO planned for October.
(Photo: PR)
Frankfurt The pharmaceutical logistics company Trans-o-flex is postponing its IPO planned for this month in Frankfurt in view of the latest market turbulence. The new issue is now targeted for the end of November at the earliest, if the markets allow it, said several people familiar with the matter. The Berlin language learning provider Babbel and the Swiss luxury watch retailer Chronext had previously postponed their planned stock exchange listings.
The Bertelsmann call center subsidiary Majorel made its stock market debut in Amsterdam, but the shares have since been quoted below the issue price. A Trans-o-flex spokesman said; “We have made all the necessary preparations for a possible IPO, and we can start at any time if the market environment is right”. The company is in no hurry.
The stock markets have recently come under pressure, among other things due to concerns about a possible impending stagflation and the turmoil surrounding the Chinese real estate company Evergrande. The Dax has left its highs reached in mid-August behind.
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