Market Conditions and Uk

firm: The company said on Thursday: Despite encouraging institutional support Misys Group Limited has decided not to proceed with its potential initial public offering at the current time due to market conditions, according to The Guardian. O2 possible IPO 'depends on weakening state of UK economy'Read more The news came as the boss of O2 Spanish owner Telefonica cast doubt on the UK mobile firm planned £10bn IPO. Mark Evans said the company was prepared but not committed to the float and that it would decide next year, depending on market conditions and the state of the UK economy. Misys had already slashed the value of its mooted £4.5bn float by £1bn last week due to market nerves. As possibility of hard Brexit has increased since last month Conservative party conference, sending the pound tumbling, investors have become more concerned about the outlook for UK companies. Several companies have cancelled or postponed IPOs, including the fitness chain Pure Gym, vehicle part-maker TI Fluid Systems, and the energy provider First Utility. Sterling has lost 18% of its value since the referendum in June. (news.financializer.com). As reported in the news.