Permira-backed luxury sneaker company Golden Goose has decided to delay its IPO due to political uncertainty in Europe. The start of trading was supposed to take place on June 21, writes Worldfootwear.com.
Golden Goose and investment fund Permira have decided to postpone their planned listing on the Milan Stock Exchange as luxury stocks fall due to political uncertainty in Europe. The trigger for this was the unexpected announcement by French President Emmanuel Macron about the elections.
"The significant deterioration in market conditions following this month's European Parliament elections and the calling of the French general election has impacted the performance of European markets and the luxury goods sector in particular," the company said, adding that the IPO would be "reviewed in due course." . However, no new dates were announced.
The Italian luxury sneaker maker previously set an IPO price range of 9,50 to 10,50 euros per share, expecting to raise up to 558 million euros before the over-allotment option is exercised. Trading was supposed to begin on June 21.
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