Mysale Group Pulls Australian Listing Plan, Blaming Market Conditions, Recent IPOs

Mysale Group Pulls Australian Listing Plan, Blaming Market Conditions, Recent IPOs

By Ian Walker Mysale Group PLC on Thursday pulled its plan to list on the Australian Securities Exchange citing the current equity market conditions and performance of a number of recent initial public offerings in Australia. The Australian-headquartered online off-price retail platform, which announced its plan to list on the ASX and delist from London's junior AIM earlier this month, said it continues to trade well with strong growth from its marketplace platform. Gross merchandise value and gross profits for the first four months of the current fiscal year are up 43% and 9%, respectively, compared with the same period a year ago, the company said. "Mysale is debt free and cash positive and remains well capitalized and able to support its current operations, such that no new funding is …
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