The war in Ukraine, worldwide rising inflation and predicted domestic interest rate rises all contributed.
๐ Background: Over the last 2 years, Foxtel has seen some pretty large growth thanks to the success of Binge and Kayo Sports.
๐ What happened: With some good news under its belt, Foxtel's majority owner News Corp was ready to out the pedal to the IPO metal.
๐ What else: Foxtel's now taken a leaf from J.Lo and Ben Affleck's book. Ya know, put things on hold...pick 'em back up later. It's looking like the IPO will go ahead in the second-half of 2022 thanks to a rocky market brought on by:
๐ก Market conditions can have a huge impact on the performance of an IPO, so timing is critical.
๐ก One in three companies say timing the market is their BIGGEST concern when considering an IPO, because a volatile or uncertain market can put the IPO funding at risk.
๐กSome companies might need the extra capital from an IPO pronto, so they take that risk...but others like Foxtel can afford to play it safe and delay.
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