Poland's Enter Air Suspends IPO

Poland's biggest charter airline, Enter Air, has suspended its initial public offering due to weak market conditions.

"The company's decision is caused by sudden and unforeseen changes in the economic situation in Europe that are rooted in, among other things, the crisis linked to Greece's financial situation, which translated into moods of uncertainty on financial markets in Poland and in Europe," Enter Air said in a statement.

A new date for the IPO has not been set, it added.

Last week Enter Air said it extended the timescale for book-building in its IPO, citing turbulence on the financial markets triggered by the Greek crisis.

Enter Air planned to sell up to 7 million shares at a maximum price of PLN19 zlotys per share, valuing the offer at up to PLN133 million zlotys (USD$34.74 million).