Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Dutch online retailer Coolblue latest to shelve IPO

EconomyOct 13, 2021 07:56
Saved. See Saved Items.
This article has already been saved in your Saved Items
© Reuters.

AMSTERDAM (Reuters) -Dutch online store Coolblue on Wednesday became the latest European company to shelve its plans for listing its shares as stock markets have become gripped by uncertainty.

Fear of inflation and rising interest rates and concerns about a property crisis in China have soured investors' appetite for new stock listings in recent weeks, as stock markets fall from record highs.

This week, British roofing specialist Marley Group shelved its plans for an initial public offering (IPO) in London because of market volatility, after similar moves by France's Icade Sante and Switzerland's Chronext a week earlier.

"The current market conditions create uncertainty among investors towards IPOs, in particular in the ecommerce space," Coolblue founder and Chief Executive Pieter Zwart said.

"We decided to postpone the intended IPO until further notice," he said in a statement.

Coolblue, the Netherlands' second-largest online retailer behind Ahold Delhaize's, said on Oct. 1 it planned to list on the Amsterdam Stock Exchange within weeks.

Sources close to the matter had said it was aiming for a valuation of 3 billion to 4 billion euros ($3.5 billion-$4.6 billion) with its IPO, in which 20% to 30% of its shares would be sold.

Dutch investor HAL Trust has a 49% interest in Coolblue, while Zwart holds the remaining stake.

Coolblue's revenue jumped 31% in the first six months of 2021 to 1.2 billion euros, while earnings before interest, tax, depreciation and amortisation (EBITDA) rose 15% to 54 million euros.

Originally a specialist in consumer electronics and other household goods, Coolblue has also ventured into the energy sector, with the installation of solar panels and charging points for electric cars in recent years.

Founded in 1999 by Zwart and two of his friends, the company operates a dozen physical stores in the Netherlands and Belgium.

($1 = 0.8660 euros)

Dutch online retailer Coolblue latest to shelve IPO

Related Articles

Bitcoin tumbles 9.95% to $48,397.56
Bitcoin tumbles 9.95% to $48,397.56 By Reuters - Dec 04, 2021

(Reuters) - Bitcoin dropped 9.95% to $48,397.56 at 18:02 GMT on Saturday, losing $5,346.13 from its previous close. Bitcoin, the world's biggest and best-known cryptocurrency, is...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email