FineToday Holdings Co, the Japanese personal-care company backed by CVC Capital Partners, has cancelled its planned Tokyo Stock Exchange listing after assessing investor sentiment and market conditions, according to a report by Bloomberg.
The company had aimed to list on the exchange with an indicative price of JPY1,470 ($9.75) per share on Wednesday 5 November.
This marks FineToday’s second postponed IPO, highlighting the difficulties facing sponsor-backed exits in Japan as challenging market conditions weigh on valuations and demand for new offerings.
FineToday’s relative valuation shows a 14% premium over competitors such as Kose Corp and Shiseido Co.
