October 15, 2018 / 6:54 AM / 10 months ago

Spanish oil firm Cepsa postpones IPO, blames market rout

MADRID, Oct 15 (Reuters) - Spanish oil firm Cepsa postponed a planned market listing on Monday, the latest company whose IPO plans have succumbed to a global sell-off in equity markets.

Cepsa’s owner, Abu Dhabi state investor Mubadala, had planned to raise about 2 billion euros ($2.3 billion) by selling 25 percent of Cepsa in what would have been the biggest oil firm listing in a decade.

“The most recent international economic developments have sowed considerable uncertainty in international capital markets,” Cepsa said in a statement.

“In this scenario, the appetite of international investors has retracted significantly, along with their willingness to participate in stock market listings such as the one being carried out by Cepsa,” it said.

Last week, Dutch car leasing company Leaseplan shelved plans to float in Amsterdam, blaming a global sell-off in equity markets.

$1 = 0.8653 euros Reporting by Isla Binnie; editing by Paul Day and Jason Neely

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