FRANKFURT (Reuters) -German car parts retailer Autodoc on Tuesday called off its planned initial public offering on the Frankfurt stock exchange, the latest in a string of companies holding off on
German car parts seller Autodoc puts IPO on hold
FRANKFURT (Reuters) -German car parts retailer Autodoc on Tuesday called off its planned initial public offering on the Frankfurt stock exchange, the latest in a string of companies holding off on listing plans.
In a statement, Autodoc added that an IPO at a later time remained under consideration by the company and shareholders, without saying why the IPO was postponed.
The planned transaction would have seen the sale of existing shares worth as much as 390 million euro ($453.18 million), for a total equity value of the company of as much as 2.3 billion, with the first day of trading scheduled for Wednesday.
The risk of global trade disputes over tariffs has led to the suspension of a number of listings and the military conflict between Israel and Iran has further added to the market volatility.
Metals investor Cobalt Holdings earlier this month suspended London IPO plans, declining to specify the reasons. That was after Germany's 1Komma5 Grad, a renewable-energy systems provider, and Swedish fintech Klarna in April put U.S. listing plans on hold.
In March, German pharmaceuticals company Stada postponed an IPO in Frankfurt.
($1 = 0.8606 euros)
(Reporting by Ludwig Burger and Isabel Demetz, Editing by Friederike Heine)
