FRANKFURT, May 11 (Reuters). German online car dealer Meinauto announced on Tuesday that it had decided to postpone its planned listing, citing “unfavorable” market conditions for high-growth companies.
The company had offered shares worth up to 515 million euros, which corresponds to a market capitalization of 1.2 to 1.5 billion euros.
The planned deal followed the IPO of the used car platform AUTO1, which was launched on the market at the beginning of February with a value of 9.5 billion euros.
Reporting by Arno Schuetze Editing by Riham Alkousaa
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