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Business News: Why Did Chronext Postpone Its IPO?

Online watch retailer Chronext has been preparing for its IPO for quite some time now. With the launch scheduled a few days ago, Chronext is nowhere to be found on the Swiss Stock Exchange (hereafter ‘SIX’). So what happened?

Well it so turns out, that Chronext issued a statement: “CHRONEXT AG (“CHRONEXT”) has decided together with its shareholders to postpone the contemplated IPO due to currently adverse market conditions for high growth companies. The initial listing of the shares of CHRONEXT on the SIX Swiss Exchange was originally planned for October 8, 2021. CHRONEXT and its shareholders remain committed to a public listing once market conditions stabilise.”

At the end of September, Chronext had set a price range at CHF 16 to CHF 21 per share. No new date has been announced as of yet.


    1. A bunch of IPOs (not necessarily linked to the watch industry) have been cancelled/postponed the past weeks. The latest closer to home here would for example be Coolblue (dutch e commerce). They all issue similar statements so I will just quote the reasoning from Coolblue here that Reuters published: “Fear of inflation and rising interest rates and concerns about a property crisis in China have soured investors’ appetite for new stock listings in recent weeks, as stock markets fall from record highs. ” In addition, the looming energy crisis doesn’t help stability either I’d think?

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