France’s Colis Privé postpones public listing

French parcel delivery company Colis Privé on Monday postponed for a few months its initial public offering (IPO) initially planned for early July, citing unfavourable market conditions.

Although 2021 has been a record year for IPOs in Europe and globally, there are signs of investor fatigue.

E-commerce giant Amazon is Colis Privé’s main customer and holds 9.65% of its shares.

In June, Colis Privé said French markets watchdog AMF had approved its IPO registration document.

The group, which did not provide a fundraising target or a detailed description of its shareholding structure, wants to expand overseas, starting with Belgium, Luxemburg and Morocco.

Colis Privé’s full-year revenue grew by 46% in 2020 from a year earlier to 233.8 million euros ($283 million). Earnings before interest, tax, depreciation and amortisation (EBITDA) were up by 94% over the same period to 21.5 million euros.

Last month, French car parts distributor Parts Holding Europe (PHE) withdrew its Paris initial public offering, also citing unfavourable market conditions.