Loss of con­fi­dence in UK IPO mar­ket

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FOOD PROVIDER Bakka­vor has pulled its planned Main Mar­ket IPO. It cited ‘cur­rent volatil­ity’ in the new is­sues mar­ket which over­rode ‘suf­fi­cient in­sti­tu­tional de­mand’ to cover the of­fer­ing from the sup­plier of piz­zas and desserts to Tesco (TSCO), Marks & Spencer (MKS) and Waitrose. Bakka­vor was joined by com­mu­ni­ca­tion tow­ers op­er­a­tor Arqiva, which has also post­poned its float, promis­ing to ‘re­visit the list­ing once IPO mar­ket con­di­tions im­prove’. (JC)

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