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.
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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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