Romanian online retailer Elefant postpones IPO at Bucharest Stock Exchange

Elefant Online, the second-largest player in Romania's online retail market according to Ziarul Financiar daily, postponed plans for the initial public offering (IPO) previously scheduled for November.

"We need to take a step back and look at the best options," said the company's founder and majority owner (60.7%), former Moldovan prime minister Ion Sturza.

The decision was based on the feedback from some investors after the company's roadshow, operated by Wood&Company.

"We tested the market, and the market was extremely responsive. We have some offers on the table that we couldn't even dream of half a year ago. But we can't move forward yet. There are offers from investors, from partners, from banks. It is a surprise, many analyzed the Romanian market and came to us with different offers," Ion Sturza told Ziarul Financiar on a rather ambiguous note.

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