Classifieds firm Dubizzle Group said on Wednesday it had postponed its IPO on the Dubai Financial Market.
Dubizzle, which was planning to offer a 30.34% stake to investors, did not provide further details on the decision or a new timeline for the initial public offering.
It said in a statement that since announcing its intention to float earlier this month it had seen strong interest from investors but "decided to postpone its planned IPO and assess optimal timing for the offering in the future".
Dubizzle said it was focused on growing its business in the United Arab Emirates and expanding its Saudi Arabian footprint.
The group operates online marketplace and classifieds platforms across the Middle East, Africa, South Asia and Europe, mainly centred in the property and automobile markets.
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