German underwear giant whose impending IPO we reported on last month, has abruptly canceled floating shares of its stock publicly, and will instead be sold to Delta Galil Industries Ltd. (DELT.TV), a global apparel manufacturer based in Israel and the U.S, Dow Jones has reported.

Brief Debrief, wherein The Underwear Expert wanders the streets of Manhattan and asks random guys to pull down their pants. Amazingly, some do! This week we Debrief Tore from Copenhagen.

Schiesser, the 137-year-old German underwear manufacturer, should be ready for a stock market flotation by June, Reuters reported Wednesday. “We are in full preparation for a listing in the second quarter,” said Volker Grub, a member of the Schiesser supervisory board.

Get Underwear News: According to Reuters: German underwear maker Schiesser is preparing a prospectus for an initial public offering (IPO) and hopes to float in the European spring, Die Welt reported, citing a company spokeswoman. Schiesser in April pushed back its IPO plans to 2012. Photo: Courtesy Photo