Fintech Clear Street postpones US IPO, Bloomberg News reports
Feb 12 (Reuters) - Wall Street broker Clear Street has postponed its U.S. initial public offering, Bloomberg News reported on Thursday, marking the second delayed listing in a week as the IPO market faces another bout of volatility.
The company significantly downsized its IPO earlier on Thursday, as volatile markets forced investors to keep a measured stance amid lofty valuation targets.
It had initially planned to raise as much as $1.05 billion in an offering that, at the top of its targeted range, would have it valued at $11.8 billion .
Clear Street's announcement follows similar moves elsewhere, with Blackstone-backed Liftoff Mobile postponing its planned U.S. listing amid a software sector selloff earlier this month.
Brazilian fintech Agibank AGBK.N also slashed its offering just a day before its debut, following weak trading by rival PicPay PICS.O.
Separately, Clear Street did not immediately respond to a Reuters request for comment.
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