October 5, 2018 / 12:27 PM / 2 months ago

EXCLUSIVE-German chip plant builder Exyte shelves IPO plans

LONDON/FRANKFURT, Oct 5 (Reuters) - German chip factory builder Exyte has shelved its plans to float on the Frankfurt stock exchange later this month after receiving muted feedback from investors.

“Exyte AG, together with its shareholder M+W Group GmbH, have decided today to take additional time for its IPO as the company and its shareholder do not consider the current equity market conditions ideal for a listing,” Exyte Chief Executive Wolfgang Buechele told Reuters.

“We are sticking to our plans but have no time pressure and will wait for the right market conditions,” he said in emailed statement.

Earlier, people familiar with the matter had told Reuters that the company was considering delaying its initial public offering due to lukewarm investor interest.

Editing by Thomas Seythal

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