The fund management arm of global bank, Credit Suisse, has decided to pull its planned initial public offering of 1a Immo PK.
In a brief notification on Wednesday, the financial services giant said the IPO scheduled for Q4 this year was to be postponed.
The reason provided was due to ‘the current market conditions and the high volatility in the market for real estate funds’.
Preparations for the listing were largely complete.
But Credit Suisse elaborated: ‘A successful IPO in the fourth quarter of 2022 cannot be guaranteed. Due to the changed market conditions, the situation will be reassessed and information on the further course of action will be provided in due course.’
