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CCC SACCC footwear resigns from Modivo IPO plans
Due to the modification of the business model of CCC's subsidiary Modivo Group, listed footwear group CCC is abandoning its previously announced plans for Modivo's IPO, CCC said in a press release.
"Due to the modification of the Modivo Group's business model - the transformation of its operations into the operational centre of the online business of the entire CCC Group and the associated need for close operational integration of all channels and unification of the customer base, we are abandoning the previously announced plans to seek the admission of Modivo Group shares to trading on the Warsaw Stock Exchange," CEO Dariusz Milek, quoted in the press release, said.
"We are focused on leading this business into the most profitable e-commerce platform in Europe and its full integration into CCC Group structures," he added.
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