WeTransfer cancels its IPO due to “volatile market conditions”
WETRANSFER TECHNOLOGIES BAG
The Hague (Netherlands), Jan 27 (EFE).- The file exchange service WeTransfer announced today that it is canceling its IPO on the Amsterdam Stock Exchange, scheduled for this Friday, due to "volatile market conditions," said the company in a brief statement.
While we have decided not to continue our public listing due to volatile market conditions, our commitment to addressing the needs of our global community of 87 million monthly active users remains as strong as ever. Gordon Willoughby.
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The company reported last week that it would go public this Friday offering a price range of between €17.50 and €20.50 per share, which would have implied a market capitalization of between €629 million and €716 million.
WeTransfer's decision not to enter the market coincides with a sharp drop in the shares of large technology companies such as Netflix, Amazon, Microsoft or Apple.
WeTransfer did not specify in its statement today whether it plans to schedule another date for its eventual IPO.
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