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Britain's Marley postpones market listing plans

By Reuters

LONDON – British roofing specialist Marley Group said on Tuesday it was postponing its plans to list on the London stockmarket because of market volatility.

The company said in September it planned to raise around 75 million pounds ($102 million) through a stockmarket listing.

“Whilst Marley has received considerable institutional investor interest … the board and shareholders have decided that proceeding with an initial public offering in this period of market volatility is not in the best interests of the broup and its stakeholders,” the company said in a statement.

Marley follows France’s Icade Sante and Switzerland’s Chronext who have also delayed initial public offerings, while last Friday Czech company Eurowag cut the size and price of its London listing.

($1 = 0.7350 pounds)