German online car trader Meinauto postpones IPO
FRANKFURT, May 11 (Reuters) – German online car trader Meinauto said on Tuesday that it decided to postpone its planned stock market listing, citing “adverse” market conditions for high growth companies.
The company had offered shares worth up to 515 million euros in a deal that would have given it a market capitalisation of 1.2 billion to 1.5 billion euros.
The planned deal followed the IPO of used-car platform AUTO1 , which it floated in early February at a valuation of 9.5 billion euros.
Reporting by Arno Schuetze Editing by Riham Alkousaa