Swedish confectionary firm Candyking withdraws IPO

STOCKHOLM Fri Dec 13, 2013 4:03am EST

STOCKHOLM Dec 13 (Reuters) - Confectionery retailer Candyking said on Friday it would abandon plans for a listing on the Stockholm exchange in the wake of a profit warning this week due to fires at two of its suppliers.

"According to our assessment, Candyking's long-term earnings potential is not affected by the described circumstances, however, they have created uncertainty in the market, which at least in the short-term would burden Candyking's standing as a listed company," Candyking said in a statement.

The company said in late November it would sell shares worth up to 830 million crowns ($126 million) in its initial price offering at the Stockholm bourse. ($1 = 6.5914 Swedish crowns) (Reporting by Simon Johnson)

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