Shareholders of the Amsterdam-based company have decided the process to IPO will proceed "upon the return of more favorable market conditions," KNDS said.
Volkswagen is poised for a boardroom showdown following reports that the auto giant is weighing up shutting four factories and implementing 100,000 job cuts.
An historic heat wave has driven unprecedented demand for Chinese-made air conditioners in Europe, underscoring the tough task Brussels faces in rebalancing trade with Beijing.