Matomy Media Group pulls £300m stockmarket flotation amidst volatility
Matomy Media Group has pulled a planned £300m flotation on the London Stock Exchange citing increased share price volatility and difficulty in meeting listing regulations which require a quarter of investors to be resident in the European Economic Area.
A price band of between 305p and 390p had been anticipated for the listing, valuing the firm at between £284m and £346m.
Matomy chief executive Ofer Druker said: “Matomy is a fantastic company. I am proud of all the hard work my team has done over the past eight months. This is a technical setback, which although disappointing, will not stop us striving to achieve our ambition to become one of the world’s leading performance-based marketing companies.”
The Israeli digital advertising firm’s difficulties signals a shift in market sentiment following a recent IPO boom in the City
A lukewarm reception in Europe contrasted sharply with strong demand in the US, the firm said.