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Voyager Air shelves $200 million London IPO

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(Reuters) – Voyager Air Limited <IPO-VOY.L> on Thursday put off its plans for an initial public offering on the London Stock Exchange, citing “unfavourable market conditions”.

The company had said last month that it planned to raise up to $200 million (160.2 million pounds) through a listing on the London Stock Exchange to support its new aircraft leasing business.

“The company is grateful for the support it has received from institutions in recent weeks and intends to reactivate the IPO at a later date,” it said.

Political uncertainty around Britain’s departure from the European Union and a slowdown in the euro zone economy have spurred more turbulence in stock markets in recent months and discouraged investment flows.

European share listings hit their lowest in seven years in the first half of the year, with just $10.1 billion raised, a 57% slide compared from a year earlier.

Last week, Reinsurance group Swiss Re <SRENH.S> suspended plans for a $4.1 billion initial public offering of British life insurer ReAssure in London, citing weak demand from institutional investors.

A spate of recently listed companies including payments and foreign exchange company Finablr <FINF.L>, Watches of Switzerland <WOSG.L> and telecoms operator Airtel Africa <AAF.L> still trade below their flotation price.

Fears that the U.S.-China trade war could escalate have also unnerved investors.

Most notably, Anheuser-Busch InBev <ABI.BR> pulled a planned listing in Hong Kong of its Asia Pacific unit, Budweiser Brewing Company APAC Ltd <1876.HK> last week, in what would have been the world’s biggest IPO of 2019 at $9.8 billion.

(Reporting by Shashwat Awasthi in Bengaluru and Clara Denina in London; Editing by Arun Koyyur)

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