Enter Air cancels public offer

Polish low-cost airline Enter Air has canceled its public offer due to formal reasons, at the same time maintaining their intention to conduct Initial Public Offering (IPO) in addition to entering the Warsaw Stock Exchange. Enter Air canceled the public offer because of unfavorable market conditions caused by the financial crisis in Greece. Due to formal reasons the company is obliged to cancel the offer because of the expiration of the three-month period for signing up for shares. According to legislation the term for this process cannot exceed three months from the date of subscription. It is due on 22 September 2015. As a result of the cancellation, all applications  will expire whereas payments already made by investors will be returned within seven working days.