Steinhoff's Mattress Firm pulls New York listing plans due to market volatility | Business

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Mattress Firm, the biggest mattress retailer in the US, has pulled its plans to list on the New York Stock Exchange, citing a volatile market for initial public offerings. | News24_Business

by professional services firm Ernst & Young, IPO proceeds fell 61% in 2022 due to market volatility after setting records in 2021. While conditions are expected to remain muted in early 2023, there is a strong pipeline for IPOs which could see activity pick up in the second half of the year, the report said.

Steinhoff, which currently has debt of €10 billion , had also raised about €1 billion through Pepco's listing on the Warsaw bourse in Poland in 2021, but the group itself may delist. The firm announced in December that it had reached a deal with its largest creditors, which could see them holding 80% of the company.Steinhoff's shares had fallen 5.

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_Business Our president would love that mattress firm so that he gets more mattresses to stash dollars

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