According to Reuters, private equity firm CVC has postponed its plans for a European initial public offering (IPO) this year. Citing unfavorable market conditions, the firm has chosen to delay the IPO, which aimed to raise approximately EUR 1 billion. This is the second time CVC has faced setbacks with their IPO plans, after a previous attempt in 2022.
The decision by CVC comes amidst a series of companies abandoning their IPO plans due to the volatile market conditions. Companies such as DKV Mobility, Renk and Planisware have all recently canceled their debut plans on European stock markets.
While some of CVC’s institutional backers had intended to sell shares in the buyout group as part of the IPO, the firm’s partners were not expected to sell stock at this stage.
CVC, which manages over EUR 160 billion in assets, has been actively working towards diversifying its portfolio. In September, the company acquired infrastructure manager DIF and last year, it successfully merged with secondaries manager Glendower.
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