The Basel-based Panalpina Group, one of the world’s leading providers of forwarding and logistics services, announced a few weeks ago that it would go public, but left the timing of the IPO open. The group’s sole shareholder, the Ernst Göhner Foundation, has now decided not to go ahead with the IPO this year, as it considers that the stock market situation is currently unfavourable for a successful share flotation.
Read MorePanalpina Annual Report 2001
Read MorePanalpina, the global forwarding and logistics group, is weighing a public offering of its stock sometime in the next several years.
Gerhard Fischer, the company’s chairman, revealed that possible public offering at the Basel, Switzerland-based company’s annual meeting last week.
Panalpina is owned by the Ernst Gohner Foundation, a Swiss social and cultural organization.
Martin Spohn, a spokesman for Panalpina, said that the public offering would be discussed in June at a shareholder meeting, at which time details such as how many shares to sell would be discussed.
Panalpina Group saw profits jump 20.5% in 2001 to 111.7 million Swiss francs ($67.05 million) compared to $55.7 million in 2000.
Read MoreThe Panalpina Group have extended its global network again, setting up national operating organizations in Hungary and the Czech Republic.
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