Europastry cancels IPO due to low investor acceptance

Europastry has decided to cancel its IPO, originally scheduled for next Thursday, due to a lack of investor interest in the operation, sources close to the company told Europa Press today.

Share price and fundraising goal

The company, known for its specialty in frozen baked goods, planned to announce the final share price for its stock market debut on Tuesday, which was set at between 15.85 And 18.75 euros by title.

The main purpose of this operation was to collect a total of 210 million euros. From this amount it was planned to allocate 109.1 million euros to reduce the company’s debt, while 89.6 million euros They were planned to finance its inorganic growth.

Given the investor rejection, Europastry has decided to cancel the IPO operation, which represents significant changes in your plans financial and strategic in the short term.

The cancellation of the Europastry IPO is a reflection the importance of investor confidence in stock market transactions. Despite the company’s efforts to raise funds for debt reduction and growth, a lack of market interest led to this decision. It is critical for companies to carefully assess the financial environment and investor receptivity before embarking on such transactions.