Germany's Deutsche Annington cancelled its July 3 market offering due to failure to attract demand for their new shares. Company representatives stated that the decision to postpone the planned IPO (Initial Public Offering) was due to the "persistent adverse market conditions."
Before the announcement was made to the public, sources shared to Reuters that the decision to not push though with the IPO was due to the fact that there weren't enough orders made for the shared which were priced from euro 18 to euro 32.
Many are seeking comments regarding the withdrawal of the IPO. Deutsche Annington Chief Executive Rolf Buch was quoted saying, ""This decision does not impact Deutsche Annington's strategy. Based on our strong financial position, we will focus on driving our operational performance including continuing our investment and modernisation programme as planned."
Deutsche Annington is Germany's largest residential real estate company. Deutsche Annington representatives said that it would continue to further evaluate the market to determine for a possible IPO listing in the coming days.
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