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Deals

Language-learning app Babbel postpones its Frankfurt IPO

(Reuters) - Language-learning app Babbel said on Tuesday it has decided to postpone its contemplated initial public offering (IPO) due to present market conditions.

The initial listing of the shares of Babbel on the Frankfurt stock exchange was planned for Sept. 24, 2021, the company said.

Babbel remain committed to the listing on exchange in the mid-term, the company added.

Last week, Babbel said it would sell its shares at 24 to 28 euros to give the business, founded in Berlin in 2007, an equity value of up to 1.26 billion euros ($1.5 billion).

($1 = 0.8528 euros)

Reporting by Sabahatjahan Contractor in Bengaluru; Editing by Alistair Bell

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