The mobility service provider DKV Mobility apparently no longer wants to go public this year. Given the uncertain environment, the listing, which was originally planned for October, has been postponed until next year, two people familiar with the matter said. The family business from Ratingen and its minority shareholder, the financial investor CVC, are in no hurry, it said. DKV Mobility did not comment on the information. The company had not yet publicly announced its IPO plans.
DKV Mobility is known for its 5.1 million fuel cards that truck drivers use to pay for diesel and tolls. Four years ago, the financial investor CVC acquired a 20 percent stake in the company, at the time for around 400 million euros. DKV had hoped for a valuation of around four billion euros for the IPO, for which the investment banks JPMorgan, Bank of America and UBS were hired.
However, the failed IPO of tank supplier Renk had a negative impact on the climate on the financial markets in Germany last week. The successful issue by the pharmaceutical packaging manufacturer Schott Pharma had previously given hope. Its shares were quoted on Tuesday at 32.50 euros, 20 percent above the issue price. In New York, the issue of the shoe manufacturer Birkenstock is also running according to plan. Shares are expected to be allocated on Tuesday at the upper end of the price range at $49.