Fitness First postpones IPO: WSJ

UK gym-chain operator Fitness First has postponed its anticipated US$500 million ($654 million) initial public offering in Singapore, people familiar with the situation told The Wall Street Journal.

The company had planned its Singapore listing for the fourth quarter of this year, the people said Saturday. One of the people said that Fitness First may now look to tap the market next year, but the timing hasn’t been decided.

Its decision comes as other firms consider delaying or have pushed back plans for Singapore listings because of unfavourable market conditions caused by worries about a global economic slowdown and Europe’s sovereign-debt crisis, WSJ.com added.