French car parts distributor Autodis suspends planned IPO: Reuters

French spare car parts distributor Autodis said on Wednesday it had decided to suspend its planned initial public offering due to a “cautious” market environment.

Autodis added it was confident about its future and that it would accelerate its expansion strategy in Western Europe with the support of Bain Capital, its majority shareholder.

Bankers were hoping the IPO would value the company at more than 1.2 billion euros ($1.5 billion) including debt, based on a valuation of 12 times earnings before interest, tax, depreciation and amortisation, which is forecast at just above 100 million euros for 2018, a source told Reuters earlier in January.