Oura pulls $15bn stock market listing days after announcement
Smart ring manufacturer Oura has postponed its planned $15 billion IPO, citing current market volatility and uncertainty. The company joins other firms in delaying public listings due to broader economic concerns, including inflation and rising interest rates.
Why it matters
The delay highlights a cooling IPO market and growing investor caution regarding valuations in the current macroeconomic climate.
Share Save Add as preferred on Google Dearbail Jordan Business reporter Getty Images Oura's chief executive Tom Hale wears one of the company's smart rings Oura has pulled its plan to sell shares in its business on the US stock market, in a move which would have valued the firm at $15bn (£11.3bn), just days after announcing it.
The maker of smart rings which track their owners' health said it would postpone its flotation "due to uncertainty in the Initial Public Offering (IPO) market" and did not say when it might go ahead.
Oura had filed official documents setting out plans to raise up to $2.2bn by offering shares in the business to investors just over a week ago.
The tech firm has become the latest business to delay its public listing, with experts saying the IPO market is getting more challenging.
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