Domus, one of the largest owners of Czech rental housing, has called off the planned IPO for its operating subsidiary RPG Byty on the Amsterdam stock exchange. Domus, which is controlled by the Czech business mogul Zdenek Bakala through the company BXR, controls a portfolio of 44,000 flats worth an estimated €490m. It cited unfavorable conditions on the market, but would not rule out a future attempt to go public. JP Morgan had been called in to run the IPO, which was to feature the sale of €250m in new and pre-existing shares.
Bakala, who also owns the Economia publishing house and New World Resources, which operates coal mines in the Ostrava region, is leaving BXR and plans to focus on his other activities in the Czech Republic.
