Due to market volatility (Il Sole 24 Ore Radiocor) - Milan, 19 Jun - Golden Goose Group, an Italian fashion brand known for its luxury sneakers, announced the postponement of its initial public offering "as a result of European market volatility." "As part of the IPO process, the company has engaged widely with investors. The reception of the story has been very positive, with strong support across the investment community, including from Invesco who acted as cornerstone with 100 million euro of demand. The book of demand was covered across the price range from the first hour of bookbuilding and is well oversubscribed across the range," it said in a statement.

"However, the significant deterioration in market conditions following European Parliament elections this month and the calling of a general election in France have impacted European markets performance and, in particular, the luxury sector. In this context, Golden Goose's business is continuing to perform well," it added.

It added that its management and shareholders "believe the current market backdrop is not the right environment to take the company public. An IPO for Golden Goose will be reassessed in due course.".

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(RADIOCOR) 19-06-24 08:01:33 (0084) 5 NNNN