Belarus food retailer Eurotorg delays London IPO

(Reuters) - Eurotorg Holdings Plc IPO-ERH.L, the biggest food retailer in Belarus, on Tuesday delayed its plans to list its shares in London, blaming current market conditions.

Eurotorg, which was expected to raise around $200 million in primary proceeds through an offering of global depositary receipts, said it would pursue its initial public offering when capital markets conditions become more favorable for emerging markets.

Eurotorg announced its plans to list in London last month, and the deal, based on average valuation multiples of its peers, could have valued the company at over $3 billion including debt.

Reporting by Noor Zainab Hussain in Bengaluru; Editing by Anil D’Silva