(Adds details about the deal, IPO market)
NEW YORK, Sept 22 Fluidigm Corp (FLDM.O)
postponed its initial public offering on Monday, citing market
conditions, according to one of the deal's underwriters.
The South San Francisco, Calif.- based provider of systems
designed to optimize laboratory functions had planned to raise
$79.5 million with the sale of 5.3 million shares, according to
a regulatory filing.
The stock flotation would have been the first IPO in the
United States since early August, but became the 64th IPO to be
withdrawn or postponed this year.
The IPO market is in the midst of its most severe downturn
in five years. There have been 30 IPOs this year, generating
about $26.7 billion in proceeds, roughly a quarter of the
activity at this time last year, according to Thomson Reuters
The deal was originally set to have priced last Thursday
but negotiations continued on Friday into Monday. The estimated
price range was between $14 and $16.
The underwriters were led by Morgan Stanley (MS.N) and UBS
Investment bank, a unit of Switzerland's UBS AG UBSN.VX.
(Reporting by Phil Wahba; Editing by Bernard Orr)