Formula One IPO Worth $2 Billion Delayed Amid Weak Markets

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FORMULA ONE IPO
AP

Dealogic says motorsport franchise Formula One has delayed its estimated $2 billion initial public offering in Singapore, joining a slew of companies that have delayed IPOs amid weak markets.

The deal tracking company said Friday that volatile stock market conditions are the reason behind Formula One postponing the listing.

Global stocks have tumbled as Europe's debt crisis worsens.

Other companies have also shelved plans to issue shares for the first time.

London jeweler Graff Diamonds on Thursday said its $1.5 billion IPO in Hong Kong was on hold.

Dealogic said that this week six new stock listings around the world have been postponed. They would have raised about $4.6 billion.

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UBS sees F1 revenues up 9.2 percent a year till 2016: note