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Here are some notable IPOs around the world that were withdrawn and shelved so far this year: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'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.
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:
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:
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:
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:
Homeowners managing general underwriter Bamboo Insurance Services postponed its initial public offering in the US in late September, media reported.
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:
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:
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.
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:
CopperTech Metals decided to delay its US initial public offering in late June, citing volatility across the global copper equity sector.
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:
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.
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)
