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Canal+ Polska calls off IPO again

Canal+’s plans for a Polish IPO has been suspended for the second time in a year.

Polish financial market regulator KNF said that the suspension came at the pay TV operator’s own request.

A spokesperson said: “The prospectus procedure was suspended at the request of the company.”

The news comes after the operator posted a net profit of PLN178.25 million (€39.1 million) for 2020.

The operator is yet to comment itself on the reason behind the suspension, with it being reported that Canal+ aimed to sell up to 49% of its existing shares. 

The Canal+ Group owns 51% of the operator, while Discovery-owned TVN Media holds 32% and Liberty Global owns the remaining 17%.

Canal+ Polska announced plans for an IPO in November, but it was called off a week later due to volatility in the financial markets. 

It remains to be seen whether the operator will return to the markets for a third time in the coming months.