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IPO Watch: Deezer Delays Debut As Market Hits Sour Note

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Online music streaming company Deezer has postponed its initial public offering "due to market conditions."

The company now plans to reviewing fundraising options in the future.

The service said that it is now "well funded and well positioned as it continues to pursue its growth strategy."

Few weeks earlier, the company had announced a "big demand in the market" for its shares as the main reasons for its decision to go for an IPO.

Deezer had planned to raise $343 million or 300 million euros by listing its shares on on the French stock exchange.

Paris-based Deezer is a provider of on-demand audio streaming, offering millions of music lovers across the globe access to a music catalogue of over 35 million tracks and 40,000 news and entertainment talk shows and podcasts.

by RTT Staff Writer

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