TVN Media and Liberty Global Ventures have decided to cancel the planned IPO of their shares in Canal+ Polska.
In a statement, Canal+ Polska says that this is “due to the adverse impact on the execution of the Offering of the recent volatility in the financial markets”. It add that they will revisit the offering once market conditions are more favourable.
TVN Media (32%) and Liberty Global Ventures (17%) hold a combined 49% in Canal+ Polska. The sale of their shares was expected to raise up to PLN1.3 billion (€290 million). Vivendi’s Canal+ intended to retain its majority 51% stake in the company.
As previously reported by Broadband TV News, Canal+ Polska published its prospectus and launched its IPO of shares earlier this month.
The first day of listing on the Warsaw Stock Exchange was expected to be around November 23.