Govecs postpones planned stock launch
The electric scooter manufacturer Govecs had initially planned to enter the stock market this fall, but the move has now been postponed. In their press the company cited the reasons behind the delay as being “due to the currently difficult capital market environment.”
The manufacturer continued to add that the growth financing was currently safe with the existing investors, and that Govecs would look to find a more appropriate time to launch their stock market investment plans.
At the end of September, Govecs had extended the signing period for their investment run by six weeks up until November 8th. Due to the unstable market situation, the manufacturer ended up offering a reduced amount of stock, with 1.15 million fewer shares being sold. So the anticipated 90 million euros of fresh capital ended up being 64 to 77 million euros, according to German reports. Following the price losses on the stock markets, numerous companies have cancelled their planned IPOs in recent weeks.
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