The Polish soft-drinks maker Hoop has put off its planned initial public offering, the company announced yesterday, citing soured sentiment towards the company following a critical report on a financial website.
In a statement, Hoop said that despite investor interest, allegations on www.polandsecurities.com that the company had engaged in improper accounting practices soured sentiment.
Hoop denied any wrongdoing and said that, “we think we need time to explain possible doubts.”
The company was meant to start a two-day subscription for up to five million shares at 23-29 zlotys each today, valuing the company at 342 million to 431 million zlotys (US$108m).
It is not known when the IPO will now take place.
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