Sport Babbel blows IPO on the target straight from

17:20  22 september  2021
17:20  22 september  2021 Source:   ksta.de

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The makers of the language learning app Babbel blown the IPO of the Berlin company only a few days before the start.

Babbel will den Börsengang nun erst «mittelfristig» angehen. © Fernando Gutierrez-Juarez / DPA central picture / DPA Babbel now wants to tackle the IPO first "medium term".

because of the "unfavorable market conditions" the placement was postponed, the company announced on Tuesday after stock market. The first trading day was originally provided for this Friday. Now the IPO should rise in Frankfurt "only in the medium term".

Babbel emphasized on Wednesday that no problems have had to get rid of the shares. "During the roadshows, we had very good feedback and could fill the books sufficiently early in the process," it said in an opinion. "About Monday we found very unfavorable market conditions.» This has finally caused the company and investors to put the IPO on ice for the time being. "We still stick to the plans. Until then, we focus on our strategy and further growth. "

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Last week, Babbel had set the price range for the IPO still to 24 to 28 euros per share. This corresponded to a market capitalization of up to about 1.3 billion euros. At that time, the board reckoned with a gross revenue in the middle of the span of around 190 million euros. The money redeemed with the planned IPO should flow into innovation and growth. The Corona Pandemic gave the Babbel business a powerful thrust last year.

Babbel was founded in 2007 and is mainly financed by subscription revenues. So far, over ten million subscriptions have been sold, it says. The US is now the largest single market for Babbel, stressed Schpker. The most important target group there are English-speaking users who learn Spanish. In summer, the Babbel Competitor Duolingo went to the stock market.

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