Waberer’s has initiated the delisting of its shares from the Budapest Stock Exchange (BSE), the Hungarian freight transport company announced on June 23.

The announcement appears to confirm that the company is unlikely to revive a bid to IPO in Budapest. after private equity firm Mid-Europa announced the previous day that it has bought out the founder of the company to take full control.

The haulage company postponed a float in November, but its shares had remained registered. Analysts suggested to bne IntelliNews earlier this year that Waberer's was perhaps the prime private company expected to help drive the revival of the Budapest Stock Exchange.

However, Waberer's now says - via an amendment to the agenda for its July 15 AGM - that it will withdraw its shares from registration with the exchange. The BSE has refused its request to extend the deadline for the commencement of trading, the company claims.

Waberer’s says it had begun planning in May to revive the scheme, suggesting that after “uncertainty surrounding Brexit faded,” the company "saw a good possibility to continue the IPO-process and commence trading before the end of 2016.”

On May 13, the company requested the BSE extend the deadline for the commencement of trading from June 31 to December 31. The BSE, however, did not accept Waberer’s arguments.

"Taking into account that the attempt for IPO was unsuccessful and the CEO of BSE did not see any possibilities for extending the deadline for the commencement of trading, the company initiated its delisting from the BSE and the cancellation of its membership in the bourse,” Waberer’s writes.

Waberer's delisting will not help the Magyar Nemzeti Bank, which bought control of the BSE in November and says it wants to shake the sleepy bourse back into life. Large IPOs from both state and privately-controlled companies are seen as flagship deals to push the process forward. However, the privatisation of a full stake in lender MKB in April already appears to have put a dent in that plan. 

In the meantime, realtor Duna House - the other great hope for a float by a private company after it also postponed an IPO last year - had a request for the extension of the deadline for its commencement of trading accepted by the CEO of the BSE on June 22. The company, which has had its shares listed since October 2015 was granted an extension until December 31.