Golden Goose postpones IPO
Permira-backed luxury sneaker company Golden Goose has postponed its IPO due to a climate of political uncertainty in Europe. The shares were due to start trading next Friday
Golden Goose and equity fund Permira have made the decision to shelve the listing amid a fall in luxury stock valuations due to political uncertainty in Europe, after French President Emmanuel Macron’s unexpected election announcement.
“The significant deterioration in market conditions following European Parliament elections this month and the calling of a general election in France have impacted European markets performance and, in particular, the luxury sector”, said Golden Goose, adding that the IPO will be “reassessed in due course”. However, no timeframe was provided.
The luxury sneaker company had previously set a price range of 9.50 euros to 10.50 euros for the IPO, expecting to raise up to 558 million euros before the over-allotment option is exercised. The shares were due to start trading on the 21st of June.
Image Credits: youraverageguystyle.com
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