UK Retailer Plans to Postpone IPO
UK Retailer Plans to Postpone IPO

British fashion retailer New Look has postponed its planned initial public offering for the London Stock Exchange, posing it as the third private equity-backed firm in as many days to abandon a flotation in unstable financial markets.

The news of scrapped plans for three listings in two days, have made industry watchers to speculate that the rebound in Europe's initial public offering market could be delayed as far away as autumn or even later.

The decision has imposed an ambiguity over other IPO hopefuls, like travel firm Amadeus and online grocer Ocado, and marks the second time in three years that New Look, supported by private equity firms Permira and Apax, has abandoned a sale.

"We continue to look at all options as we've always said, and an IPO is one of those options", said a spokesperson for Merlin Entertainments, which owns the Alton Towers theme park as well as Madame Tussauds. "It always has been. But this is massive speculation since we've never announced a set date or made a final decision".

Troubridge posted that upcoming U. K. elections will pose a difficult scenario for new listings as any political ambiguity could make financial markets jittery, with the period just before and just after likely no-go areas.

A person familiar with the matter said New Look's owners were "not sellers at any price" dampening expectations they might look to sell the business to other private equity firms.

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