April 2 (Reuters) – The Middle East conflict has significantly impacted global financial markets, affected logistics and hindered the supply of raw materials integral to a host of industries.
Below is a list of some of the companies reacting to the crisis by postponing their initial public offerings or withdrawing their dividend proposals, in alphabetical order:
DOMETIC GROUP
The Swedish outdoor tech firm pulled its dividend proposal of SEK 1.00 ($0.11) per share, instead proposing no dividend for 2025. It said geopolitical developments had increased economic uncertainty and that there were signs of demand and trading conditions turning somewhat weaker than anticipated.
LOVEHOLIDAYS
Online travel agent Loveholidays is preparing to delay an up to 1 billion pound ($1.3 billion) London IPO due to the conflict affecting market sentiment and causing travel chaos, a source familiar with the matter told Reuters.
MCCOY GLOBAL
The Canadian well construction automation company said it would suspend its quarterly dividend to maintain financial flexibility in the face of the conflict in the Middle East, which it said had introduced uncertainty and was affecting logistics and delivery schedules.
PHONEPE
The Walmart-backed Indian fintech firm said it had paused its plans for an IPO after geopolitical tensions caused volatility in global capital markets. It said it would resume the process once the market was stable again.
XED EXECUTIVE DEVELOPMENT
The executive education platform, the first company from India’s low-tax GIFT City to launch an initial public offering, said it had withdrawn its IPO amid weak market sentiments due to the conflict in the Middle East and delays in completing mandatory video-based customer verification for non-resident Indians and foreign investors linked to the conflict.
($1 = 0.7583 pounds)
($1 = 9.4984 Swedish crowns)
(Reporting by Bernadette Hogg; Editing by Matt Scuffham)
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