Major Global IPO Withdrawals and Delays in 2026 Due to Market Jitters
Key IPOs Withdrawn or Delayed in 2026
Oct 9 (Reuters) - A string of high-profile IPOs have been abandoned, delayed or reworked in 2026 as investors demanded greater valuation discipline, testing hopes for a sustained revival in global equity capital markets.
Australia's Firmus became the latest such casualty on Friday, scrapping what would have been the country's second-largest IPO.
Here are some notable IPOs around the world that were withdrawn and shelved so far this year:
Firmus (Australia)
IPO Withdrawal and Market Volatility
Australia's Nvidia-backed AI data centre operator Firmus withdrew its planned stock market listing on the bourse in October, citing market volatility and prevailing market conditions.
Valuation and Future Plans
The company had sought a valuation of about $30.6 billion. It said it would pursue private-market funding and consider alternative listing options.
Clear Street (United States)
IPO Withdrawal and Fundraising Target
Wall Street brokerage Clear Street withdrew its planned US IPO in February after first delaying the deal and sharply cutting its fundraising target. The company cited market conditions for its decision not to proceed with the offering.
Oura (United States)
Postponement and Market Uncertainty
Smart-ring maker Oura postponed its planned US initial public offering in September, citing uncertainty in market conditions. The company had sought to raise up to $2.2 billion in a listing that could have valued it at as much as $15 billion.
Holtec Nuclear (United States)
Withdrawal and Sector Sentiment
Nuclear equipment maker Holtec Nuclear withdrew its planned US IPO in September.
The Camden, New Jersey-based nuclear technology company, which was expected to go public in early September, initially postponed the offering, citing adverse sentiment impacting the equity markets and the nuclear sector.
Bamboo Insurance (United States)
Postponement and Valuation
Homeowners managing general underwriter Bamboo Insurance Services postponed its initial public offering in the US in late September, media reported.
Fundraising Details
Bamboo had on September 14 set a target price range of $18 to $20 for an offering of 35 million shares, which would have raised up to $700 million with a valuation of more than $3 billion.
Amaero (United States)
Postponement and Capital Raising
Advanced materials manufacturer Amaero postponed its planned US IPO in September. The company had sought to raise capital through the sale of 7.5 million shares before pausing the offering.
KNDS (Europe)
Delay and Market Conditions
Franco-German defence group KNDS has put plans for a stock market listing on hold until market conditions improve, it said in July, shelving what would have been one of Europe's largest defence IPOs in recent years.
Potential Valuation
A source told Reuters earlier that the maker of the Leopard 2 tank and Caesar howitzer was likely to be valued at around €15 billion ($16.84 billion) in the IPO.
CopperTech Metals (United States)
Delay Due to Sector Volatility
CopperTech Metals decided to delay its US initial public offering in late June, citing volatility across the global copper equity sector.
IPO Details
The firm had planned to raise $423.5 million in the IPO by offering 23.5 million shares priced between $16 and $18 apiece, and aimed for a valuation of up to $3.57 billion.
PhonePe (India)
Pause Due to Geopolitical Tensions
Walmart-backed Indian fintech firm PhonePe paused plans for an initial public offering in mid-March, citing geopolitical tensions and volatility in global capital markets.
Expected Valuation
It aimed to list at a valuation between $9 billion and $10.5 billion, Reuters reported at the time.
($1 = 0.8909 euros)
(Reporting by Roshan Thomas and Shivangi Lahiri in Bengaluru; Editing by Kim Coghill)
