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Investing.com -- The Middle East operator of Zara clothing and Virgin Megastore chains, Azadea Group, has reportedly put a hold on its plans for an initial public offering (IPO) to concentrate on its business operations, according to Bloomberg, citing sources familiar with the situation.
The decision to delay the listing is not due to market volatility caused by tariff policies of US President Donald Trump, said the sources.
The Beirut-based retailer is considering entering new Middle Eastern markets and expanding its operations in existing ones before moving forward with a public offering, one of the sources mentioned.
Previously, Azadea had invited banks to propose roles for the potential IPO, indicating that the company had been making preparations for a public listing. The current pause on the IPO plans suggests a shift in the company’s priorities towards business expansion for the time being.
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