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(Sharecast News) - Online furniture retailer Dusk has reportedly abandoned plans for a £300m London flotation that would have seen it join the ranks of Britain's listed companies later this year.
According to Sky News, Dusk has decided against pursuing an initial public offering (IPO) for the foreseeable future and now plans to remain privately owned.
Sky said people close to Dusk insisted current trading was strong and that the company could decide to revisit an IPO at some point in the future. It had appointed two sets of investment bankers to advise it on going public.
Headquartered in Yorkshire, Dusk has been buoyed by rapid expansion without having needed to fund it by raising external capital. The company has amassed a two million-strong customer base, with repeat customers now accounting for over half of all transactions.
It has a wholesale partnership with The Very Group to sell bedding products online.
Dusk's founder and executive chair Jason Walker had planned to remain a major shareholder after the company went public.
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