Dutch e-tailer Coolblue has delayed its IPO to “after the summer” as its shareholders need more time to prepare for the step. According to analysts, the decision is exceptional and not without any risk.
Preparing the company
In February this year, the webshop had announced that it was thinking about going public. Shareholder HAL, who owns 49 % of the shares and is a listed company itself, wants to take the step and had already prepared everything behind the scenes, Dutch newspaper Het Financieele Dagblad writes. However, the retailer now reports that an IPO will only take place after the summer. CEO Pieter Zwart, who himself will retain his 51 % of the shares, wants to prepare the organisation better internally. An additional factor is the fact that CFO Daphne Smit will soon be going on maternity leave.
According to FD, companies with stock exchange ambitions usually apply for their listing as soon as possible. Waiting usually entails the risk of investors dropping out, but in Coolblue’s case the shareholders are in no hurry because the company is performing better than ever due to the lockdown. Last year, Coolblue saw its turnover increase by 34 % to two billion euros and achieved a gross operating profit of 114 million euros. On the stock market, the retailer could achieve a valuation of three to four billion euros – and according to some analysts, it could even be six billion.