Sif Holding N.V. and GKSE Holding B.V., the selling shareholder, have decided to postpone Sif’s planned Initial Public Offering (IPO) on Euronext Amsterdam due to the deteriorated and volatile capital markets, the Dutch foundation components manufacturer said in a statement.
Sif announced its intention to float on 19 January 2016 and started its bookbuilding process on 1 February 2016. The bookbuilding period has coincided with an extraordinary volatile period in global capital markets, Sif said,
In consultation with the Joint Global Coordinators, ABN AMRO and HSBC, and Sif, GKSE Holding has decided to postpone the IPO.
The positive feedback from both the institutional investors as well as Dutch retail investors on the company and its management was consistent throughout the offer period, however, the high levels of uncertainty in the capital markets do not meet the two companies’ desire to achieve a successful IPO with an orderly aftermarket.
”Sif will pursue its development and growth strategy as a leading manufacturer in the offshore wind and oil & gas markets with full support of its shareholder. The Company’s strong capital structure and track record provide sufficient capital to support resilient growth and realise anticipated investments going forward,” Sif said.