Parts Holding Europe (“PHE”) and its reference shareholder Bain Capital have decided to withdraw the project IPO of PHE on the regulated market of Euronext Paris.
The proposed offer has aroused strong interest from long-term institutional investors convinced by the strengths of the PHE model and its significant growth potential, particularly in a market European independent sales of automotive spare parts in full consolidation. However, in due to unfavorable market conditions for IPOs in the United States and Europe, PHE and Bain Capital have jointly decided to withdraw the proposed transaction.
The initial listing of PHE shares on Euronext Paris was originally scheduled for June 3, 2021 in the form of when-issued shares (promesses d’actions).
With the support of its employees, partners and shareholders, PHE remains committed to the pursuit of its development strategy.