F1 delays $3 billion Singapore IPO on weak markets


LONDON/SINGAPORE (Reuters) - Motor sport racing company Formula One has delayed its Singapore initial public offer worth up to $3 billion (1.95 billion pounds) due to weak markets, with the sport's boss and part-owner, Bernie Ecclestone, saying the firm is waiting until the time is right.

Formula One has dropped plans to lodge its IPO prospectus with Singapore authorities next week, a source familiar with the matter confirmed on Friday, becoming the fifth major IPO to be pulled or delayed in Asia over the past week alone.

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