Planisware postpones Euronext, marking third European float fail in a week
By Nathan Vifflin
(Reuters) -French software company Planisware said on Wednesday it would postpone its initial public offering on Euronext Paris, despite closing the books on the same day, making it the third European float to fail in a week.
The company's shares were due to begin trading on Thursday. Planisware did not indicate when the share sale may now take place.
"The market environment has deteriorated recently, prompting investors to be extremely cautious," said Pierre Demonsant, co-founder and chairman of Planisware in a statement.
The company was not available to comment.
Planisware follows the steps of German gearbox supplier Renk, which pulled its listing last week despite having indicated its share pricing, also citing a "clouded" market environment.
Another German company, DKV Mobilit, on Tuesday postponed its listing until next year, citing an uncertain market environement.
Earlier on Wednesday, a bookbuilder said Planisware had priced its shares at 16 euros ($16.98) each, the lower end of the 16-18 euro bracket indicted last week.
($1 = 0.9422 euros)
(Reporting by Nathan Vifflin; Editing by Kirsten Donovan and Sharon Singleton)
