By Emma Rumney
LONDON (Reuters) - Britain's biggest debt collector Cabot Credit Management
So far in 2017 British IPOs have raised 5.2 billion dollars (£3.9 billion), down 13 percent on the same period a year ago.
The IPO market has been muted since the country voted to leave the European Union in June 2016, making firms skittish about market launches.
Ready meals firm Bakkavor Group
Cabot blamed its decision on current conditions in the IPO and credit market, and it follows reports that the firm had struggled to generate sufficient orders for shares within the price range.
"The high level of engagement and interest that we received from a wide array of investors was very encouraging, but the timing has been unfortunate with respect to IPO market conditions," said Ken Stannard, the firm's CEO.
The IPO, originally planned for September, had already been postponed as Peter Crook, the former chief of Provident Financial (L:PFG), stepped down from the board.
In October, it said the transaction would go ahead this month, with a source familiar with the matter telling Reuters it was targeting a 1 billion-pound market capitalisation.
At the start of the month broadcast and mobile masts company Arqiva abandoned its attempt to list, citing uncertainty in the IPO market.
Business services firm TMF scrapped its float last month in favour of an outright sale to a private equity firm.
Goldman Sachs (N:GS), Morgan Stanley (N:MS), Jefferies and Numis (L:NUM) were all managing the Cabot float.