Domus NV, owned by the Czech billionaire Zdeněk Bakala, cancelled its IPO plans for the Amsterdam Stock Exchange. The Dutch-based company owns 44,000 flats in the Moravia-Silesia region. The IPO was expected to bring in €250m. Reuters writes that the company decided to pull out of the IPO because of unfavorable market conditions, but Domus officials say they still intend to hit the stock market at a later date. Shares would have been offered at €16.50 to €20.50. JP Morgan was set to manage the IPO. JP Morgan oversaw the IPO of another Bakala company, NWR, in 2008. Tenants in the flats owned by Domus welcomed the news, as there was speculation the company would not stick to its promise and sell them the flats at a lower market price.
