Sisal pulls out of planned IPO

Italian gaming services operator Sisal has pulled out of a planned stock-market listing citing adverse market conditions.

According to the Wall Street Journal newspaper, Sisal announced on Friday that it had reached the decision in accordance with its advisers Deutsche Bank and UBS.

Sisal said it has opted abandon its initial public offering (IPO) due to “the lack of conditions to conclude in a satisfactory manner the listing because of unfavorable domestic and international stock markets”.

The company cancelled the Italian IPO despite having said earlier last week that it was sticking to plans to list its shares.

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