March 3 (Reuters) - Online travel agent Loveholidays is preparing to delay its London Stock Exchange flotation amid market turmoil and travel chaos caused by Iran's retaliation after U.S. and Israeli
Loveholidays to postpone $1.3 billion London IPO due to Gulf travel chaos, source says
Loveholidays IPO Delay and Market Impact
Background and Reasons for Postponement
March 4 (Reuters) - Online travel agent Loveholidays is preparing to delay its London Stock Exchange flotation amid market turmoil and travel chaos caused by war in the Middle East, a person familiar with the matter told Reuters on Wednesday.
Expected Valuation and Timing
The company, which had been expected to announce its intention to float in early March with a targeted valuation of up to 1 billion pounds ($1.33 billion), is now discussing a possible delay and may instead aim to list after the travel-heavy Easter holiday, the source said.
Media Reports and Company Response
The Financial Times first reported on the IPO postponement on Tuesday. Loveholidays declined to comment when contacted by Reuters.
Broader Market Context
London Stock Exchange IPO Activity
The potential delay could mark a setback for the London Stock Exchange's efforts to attract major flotations after years of lacklustre IPO activity.
European Travel Sector Performance
European airline stocks and shares of tour operators and travel agents rebounded on Wednesday after falling for two consecutive sessions amid Middle East travel disruptions.
Exchange Rate Information
($1 = 0.7509 pounds)
Reporting Credits
(Reporting by DhanushVignesh Babu and Yamini Kalia in Bengaluru, Charlie Conchie in London; Editing by Alan Barona and Jan Harvey)
