Russian car-sharing firm Delimobil says it has postponed IPO

FILE PHOTO: Delimobil car sharing company logo is seen on a vehicle in Moscow, Russia May 20, 2020. Picture taken May 20, 2020. REUTERS/Maxim Shemetov/File Photo

MOSCOW (Reuters) -Russian car-sharing company Delimobil said on Thursday it had decided to postpone its initial public offering (IPO) because of market conditions.

Delimobil Holding S.A. said last month it would look to raise as much as $240 million in a U.S. IPO at a valuation of more than $900 million.

“Despite receiving high quality interest from investors, the company decided not to proceed with the offering due to market conditions,” Delimobil said on Thursday,

Interfax news agency, citing an unnamed source, said the company was considering returning to the IPO plans in early 2022.

Reporting by Gleb Stolyarov; Writing by Vladimir Soldatkin; Editing by Edmund Blair