IPO delays reach five-year high (FT.com)

The number of US initial public offerings that have been withdrawn or postponed so far this year has reached a five-year high, with companies being put off by uncertain market conditions and a difficult capital raising environment. A total of 44 planned offerings worth a combined $10bn have been withdrawn or postponed, according to Dealogic. It is the highest level of withdrawals or postponements since 2001, when 127 deals worth a combined $12.8bn were pulled during the same period. Uncertainty ...