Spain's Primafrio postpones its planned IPO

MADRID, June 21 (Reuters) - Spanish family-owned logistics operator Primafrio said on Monday it had decided to postpone its initial public offering as it awaits for better market conditions.

“The company and the selling shareholder, following consultation with the joint global coordinators of the offering, JP Morgan and Morgan Stanley Europe, have decided to postpone the offering,” the company said in a filing to Spain’s stock market supervisor.

The company had initially targeted a valuation of up to 1.7 billion euros ($2 billion) and planned to list 25% of the company on June 24, in what would have been the third market listing in Spain this year.

Reporting by Jesús Aguado; editing by Belen Carreno