Formula One IPO delayed by "volatile market conditions"

The estimated $2 billion IPO gets postponed in what has been a trend of IPO rescheduling after the Facebook dud.

Formula One cited volatile market conditions are the primary reason for failing to launch its IPO last Friday, June 1, as scheduled, making it the largest IPO this year to postpone its listing. The week alone saw five other similar IPO delays, according to Dealogic data.

Here's more from Dealogic:

Formula One has announced its intention to postpone an estimated $2.0bn IPO on June, 01, 2012 due to volatile market conditions in what would be the largest. Withdrawn/Postponed New listing so far this year globally, ahead of CVC Brasil Operadora e Agencia de Viagens' expected $1.0bn IPO and Graff Diamond Corps' estimated $1.0bn IPO.

Globally, Withdrawn/Postponed New listings volume have reached $16.2bn in 2012 YTD, down 41% on the $27.6bn withdrawn/postponed in the same period last year. This week alone saw six deals withdrawn/postponed that were expected to raise a combined $4.6bn, marking the largest estimated value for New listings to be withdrawn or postponed on a weekly basis since the week of September 26th, 2011 when seven New listings were withdrawn for an estimated value of $11.6bn.

Four out of six of the Withdrawn/Postponed New listings this week were planning to list in Asia (ex Japan)* for an expected $4.0bn, this is the highest weekly level since the week of August 8th, 2011 ($5.4bn via three deals).

The other deals to be Withdrawn/Postponed this week globally include Graff Diamond Corp's $1.0bn expected IPO, Ascendas Hospitality Trust's expected $642m IPO, a $538m IPO for Marampa Iron Ore, China Yongda Automobiles Services Holdings for an estimated $370m IPO and First ULB Corp's expected $29m IPO.

The deal also marks the largest New listing to be Withdrawn/Postponed in Asia (ex Japan)* since Sany Heavy Industry postponed it's $3.1bn New listing on September 22, 2011.

Global New listings volume has reached $54.5bn via 343 deals so far this year, almost half the $100.1bn via 654 deals raised in the same period last year. While in Asia (Ex Japan)*, a total of $16.6bn via 161 deals has been raised, down 69% on the $53.4bn via 258 deals raised in the comparable 2011 period and marks the lowest YTD level since 2009 ($2.3bn via 68 deals)

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