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CVC shelves plans for European IPO

Europe’s biggest buyout firm CVC has put its plans for an initial public offering (IPO) in Amsterdam later this month on hold, due to what it sees as “unfavourable market conditions”, according to a report by the Financial Times.

The report cites unnamed sources with direct knowledge of the matter as revealing that the decision was taken after a meeting of the private equity firm’s senior leadership ion Wednesday.

CVC, which was reportedly planning to raise around €1bn through the IPO, previously postponed a planned listing last during the market uncertainty following Russia’s invasion of Ukraine.

The report quotes one of the sources as saying: “You can’t defy gravity. Market conditions aren’t there.”

An earlier report by Reuters last month suggested that some of CVC’s institutional backers were planning to sell shares in the buyout group as part of the IPO, although the PE firm’s General Partners partners were not expected to sell stock through the listing.

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