CVC-backed DKV Mobility puts IPO plans on hold - sources
10/10/2023 12:26
By Emma-Victoria Farr and Alexander Hübner
FRANKFURT, Oct 10 (Reuters) - Germany's DKV Mobility has
postponed its plans for a stock market listing until next year
in view of the uncertain market environment, two people familiar
with the matter told Reuters.
The IPO of the on-road payments provider had been planned
for October, in a deal that could have valued the business at
more than 4 billion euros ($4.23 billion).
The company had planned to raise between 500 million and 1
billion euros for its shareholders, as reported by Reuters.
The Ratingen family owners and DKV's minority shareholder,
financial investor CVC, are in no hurry, said one of the people.
The mood for new issues has become blurry since September, the
other person added.
DKV Mobility declined to comment. The company has not yet
publicly announced its IPO plans.
($1 = 0.9453 euros)
(Reporting by Alexander Huebner and Emma-Victoria Farr, editing
by Friederike Heine)
((emma-victoria.farr@thomsonreuters.com;))