Planisware postpones initial public offering on Euronext

(Reuters) – French software company Planisware said on Wednesday it would postpone its initial public offering on Euronext Paris.

The company’s shares were due to begin trading on Oct. 16. Planisware did not indicate when the share sale may now take place.

“The market environment has deteriorated recently, prompting investors to be extremely cautious,” said Pierre Demonsant, co-founder and chairman of Planisware in a statement.

Earlier on Wednesday, a bookbuilder said Planisware had priced its shares at 16 euros ($16.98) each, the lower end of the 16-18 euro bracket indicted last week.

($1 = 0.9422 euros)

(Reporting by Nathan Vifflin; Editing by Kirsten Donovan)