(MENAFN) Arcapita's spokeswoman announced that the Bahraini investment firm has withdrawn the planned listing of its PointPark Properties (P3) unit on the London exchange, reported Gulf Daily News.
Some sources attributed the move to valuation gaps that still exist between sellers and in spite of renewed life in the European Initial Public Offering (IPO) market.
P3 has 46 warehouse properties across Europe, and had hoped to collect USD402.8 million through the London IPO, which was announced in October.
The spokeswoman said that there would be greater value for both the company and its shareholders in not pursuing the IPO.
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