An investment company that funds the development of new homes ditched its plans to float on the
Urban Exposure was hoping to raise pounds 500m to fund the construction of homes in
The company said it had received an encouraging response from prospective investors, but added that it was concerned about the "prevailing IPO [initial public offering] backdrop".
After a lull that lasted several years after the financial crisis, there were more flotations in the first half of this year than in the boom times of 2007. Forty companies raised pounds 5.7bn from the start of the year until early June, according to data from Thomson Reuters. It outstrips the previous pounds 4.9bn record for the same period, set in 2007.
There are growing signs that float fatigue has set in after several market debutants tumbled in value. Shares in
In May clothing chain Fat Face became one of the first companies to pull its planned
However, along with other stock markets, the
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