November 3, 2015 / 8:07 AM / 2 years ago

CORRECTED-Germany's Corestate cancels IPO

(Corrects to identify company as a real estate investment manager, paragraph 2)

FRANKFURT, Nov 3 (Reuters) - Germany’s Corestate on Tuesday cancelled a planned initial public offering (IPO) citing difficult market conditions.

“This decision was taken due to the currently difficult market environment for IPOs in the German and UK stock markets, which are of particular relevance to the company,” the real estate investment manager said in a statement.

Corestate said it would retain its 2015 growth targets.

“There is no reason on the part of shareholders and the company to deviate from our current expansion plans for 2016,” Chief Executive Sascha Wilhelm said in the statement. (Reporting by Sylwia Lasek; editing by Kirsti Knolle)

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