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PARIS, July 12 (Reuters) – French parcel delivery company Colis Prive on Monday postponed for a few months its initial public offering (IPO) initially planned for early July, citing unfavourable market conditions.

Although 2021 has been a record year for IPOs in Europe and globally, there are signs of investor fatigue.

“We had very good initial contacts with investors that we met in recent weeks and we are confident we can pursue this project,” Colis Prive said in a statement sent to Reuters.

“In view of current market conditions, we prefer to list Colis Prive in the coming months,” it said, without giving a precise date.

E-commerce giant Amazon (AMZN.O) is Colis Prive’s main customer and holds 9.65% of its shares.

In June, Colis Prive said French markets watchdog AMF had approved its IPO registration document.

The group, which did not provide a fundraising target or a detailed description of its shareholding structure, wants to expand overseas, starting with Belgium, Luxemburg and Morocco.

Colis Prive’s full-year revenue grew by 46% in 2020 from a year earlier to 233.8 million euros ($283 million). Earnings before interest, tax, depreciation and amortisation (EBITDA) were up by 94% over the same period to 21.5 million euros.

Last month, French car parts distributor Parts Holding Europe (PHE) withdrew its Paris initial public offering, also citing unfavourable market conditions.

Reporting by Gwenaelle Barzic, Writing by Dominique Vidalon, Editing by Benoit Van Overstraeten and Barbara Lewis

Our Standards: The Thomson Reuters Trust Principles.

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