PRAGUE — Czech entertainment company Bonton has tentatively rescheduled its entry onto stock exchanges in London and Prague for spring of next year, according to co-president Zdenek Kozak.
The rapidly expanding company canceled its late-October market bow when world markets went into a tailspin.
Until Monday, there still was the possibility of going ahead with the IPO this year, Kozak said.
However, following continuing uncertainty in Asian stock markets at the end of the previous week, the decision was made to postpone until after the 1997 audit, which would set the IPO for March or April.
Bonton still is proceeding with its aggressive expansion plans in the Czech Republic as well as into neighboring countries including Slovakia, Hungary and Poland.
Bonton’s gross profit last year nearly doubled over the previous year, to around $3 million. According to outside sources, the IPO would have raised $40 million, initially trading at $15 to $19 per share.