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.