Canceled or postponed? Language learning provider Babbel canceled its planned IPO at short notice. The company wants to realize the stock exchange plans in the medium term.
Language learning provider Babbel canceled its planned IPO just a few days before the launch. Because of the “currently unfavorable market conditions”, the IPO will be postponed, the company announced on Tuesday after the market closed.
The first trading day was originally scheduled for Friday (September 24th). Babbel and its shareholders continued to strive for a medium-term listing on the Frankfurt Stock Exchange, it was now said.
Last week, Babbel had set the price range for the IPO at 24 to 28 euros per share. This corresponded to a market capitalization of up to around 1.3 billion euros. At that time, the board of directors expected gross proceeds in the middle of the range of around 190 million euros. The money raised with the planned IPO should flow into innovation and growth.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
