Language learning provider Babbel calls off its IPO | Free press

by time news

Canceled or postponed? Language learning provider Babbel canceled its planned IPO at short notice. The company wants to realize the stock exchange plans in the medium term.

Berlin (dpa) – The language learning provider Babbel canceled its planned IPO just a few days before the start. Because of the โ€œcurrently unfavorable market conditionsโ€, the IPO will be postponed, the company announced on Tuesday after the market closed.

The first trading day was originally scheduled for Friday (September 24th). Babbel and its shareholders continued to strive for a medium-term listing on the Frankfurt Stock Exchange, it was now said.

Last week, Babbel had set the price range for the IPO at 24 to 28 euros per share. This corresponded to a market capitalization of up to around 1.3 billion euros. At that time, the board of directors expected gross proceeds in the middle of the range of around 190 million euros. The money raised with the planned IPO should flow into innovation and growth.

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