“In the light of market conditions, (Fairfield) has decided against proceeding with its initial public offering of shares and listing on the main market of the London Stock Exchange at this time,” the company said.
It is not known when Fairfield will next attempt to list.
Fairfield was aiming to become the UK North Sea’s largest independent by market value, with its plans to sell more than 150 million shares at 220p to 420p each, which would have valued the company at about $1 billion.
