Smart ring maker Oura has pulled its plan to sell shares on the US stock market, just over a week after announcing it.
The tech firm was seeking to raise up to US$2.2 billion in the move which would have valued the firm at US$15 billion.
Oura says it’s postponing the flotation due to uncertainty in the initial public offering, IPO, market. It did not say when it might go ahead.
The company has become the latest business to delay its public listing, with experts saying the IPO market is getting more challenging.
Earlier this month, US nuclear technology firm Holtec International also postponed its flotation.
It blamed what it described as an unusual confluence of developments that has impaired investor confidence in the market for new public offerings.
