Global Coordinators And Advisors Decide To Suspend Zentai Unitardipo
The Boards of Directors and the banks have decided with much regret
, and after long and zentai careful evaluations, that the recent deterioration of financial market conditions has been far worse than expected, particularly since April when the decision was taken to begin the IPO process depending on general market conditions
The Board of Directors of Zentai unitardHolding NV, which was recently joined by a number of leading entrepreneurs and professionals such as Luciano Benetton, Francesco Gianni, Manuel Puig and Franco Tato as independent Directors, also reiterated its intention to pursue the Group's expansion and development throughout the world.
"We have had to acknowledge, with regret, that very poor financial market conditions do not allow us to proceed with our plans to broaden the Group's shareholder base and share with institutional and private investors our expansion plans. We do not think an appropriate valuation can be achieved under current market conditions that would reflect the substantial and ongoing growth of our brands, know-how and products throughout the world. 2002 first half
costume zentai estimated figures, that show a substantial improvement of the net financial position of the Group, confirm that we have earned the appreciation and loyalty of our customers and that the strategy we are pursuing is the right one."
The two Boards, together with BNP Paribas, Deutsche Bank, IntesaBci and advisor Morgan Stanley, will monitor the performance of the markets very closely and hope that market conditions will evolve positively for Zentai unitardIPO.
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