WeTransfer cancel IPO, citing volatile market conditions
File sharing service WeTransfer has cancelled its IPO on the Amsterdam stock exchange, just one day before it was due to take place.
Parent company WeRock said in a statement that the decision had been taken because of the volatile market conditions and despite the fact the IPO had received substantial investor demand.
WeRock had planned to issue approximately €125m in new shares alongside a secondary offering of up to 5.4 million existing shares by its current owners and managers. The company has 87 million monthly users and estimates sales of more than €100m in 2021.
Last autumn, online electronics retailer Coolblue also abandoned its plans to list in Amsterdam because of uncertainties on the financial markets.
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