PANALPINA POSTPONES IPO
Panalpina Group, the large Swiss forwarding and logistics services provider, said it has postponed its initial public offering
Ernst Gohner Foundation, the Panalpina Group's sole shareholder, said it decided not to go ahead with the IPO this year, 'as it considers that the stock market situation is currently unfavorable for a successful share flotation.'
Panalpina had announced its plan for the IPO at its annual media conference in Zurich a few weeks ago, but was not specific on when it might be held.