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.

Article type: metered
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights


Others Also Read