BW Pacific pulled its planned $250m IPO on the Oslo Stock Exchange.
In a brief statement BW Pacific said: â€œThe company has resolved not to proceed with the offering and listing under the current market conditions.â€
The offering was expected to be priced at between NOK44 and NOK50 per share, and was planned to raise $250m. The funds would have financed part of its newbuilding programme.
BW Pacific did not say if it plans to revive the IPO at a later date.