BERLIN, July 21 (Reuters) - German Startups Group, a Berlin-based investment company, has postponed its planned stock market flotation due to the fragile market environment, it said on Tuesday.
“In light of this environment, the management sees no chance of listing the company on the stock exchange at a fair price and generating the desired oversubscription,” it said on Tuesday.
The company had already last week extended the offer period for investors to subscribe to its shares.
Startups Group had planned to raise up to 72 million euros ($79 million) from a flotation by offering up to 22.1 million shares at a price range of between 2.70 and 3.60 euros.
$1 = 0.9148 euros Reporting by Victoria Bryan; Editing by Georgina Prodhan