Etos suspends IPO

Polish clothing retailer Etos has called off its initial public offering (IPO) at the Warsaw Stock Exchange due to uncertain developments in the clothing market in Poland, according to an annex to the prospectus issued on Wednesday. "The decision of the selling shareholder (...) results from the increased uncertainty regarding the situation and outlook of the fashion retail sector in Poland in 2015 and financial results of companies operating in the sector (...) which could have an important direct or indirect impact on company's activity and financial results," the annex read. The IPO was set to be worth roughly PLN 156 million. Private equity fund Abris, which controls 100 percent of Etos's shares, offered up to a third of Etos' capital.