Maritime company, Exmar NV has announced that it will delay the launch of its contemplated initial public offering in the US.
The company, which initially filed an IPO registration statement with the US Securities and Exchange Commission (SEC) in September 2014, said that the decision to hold the IPO of an LNG master limited partnership (MLP) was down to “unfavourable current capital market conditions”.
Price and the number of units to be offered were not disclosed, but the company was expected to trader under the ticker ‘XMLP’.
Citigroup, BofA Merrill Lynch and JP Morgan are joint book-running managers for the proposed offering.
In a statement the company said: “Exmar will continue to evaluate the most appropriate timing for the initial public offering as market conditions develop.”