Oura pulls $15bn stock market listing days after announcement

Oura has pulled its plan to sell shares in its business on the US stock market, in a move which would have valued the firm at $15bn (£11.3bn), just days after announcing it.

The maker of smart rings which track their owners' health said it would postpone its flotation "due to uncertainty in the Initial Public Offering (IPO) market" and did not say when it might go ahead.

Oura had filed official documents setting out plans to raise up to $2.2bn by offering shares in the business to investors just over a week ago.

The tech firm has become the latest business to delay its public listing, with experts saying the IPO market is getting more challenging.

Oura's chief executive Tom Hale said "an IPO is just one step in our journey", adding that "we have the luxury of choosing our moment".

Earlier this month, US nuclear technology firm Holtec International also postponed its flotation. It blamed an "unusual confluence of developments that has impaired investor confidence in the market for new public offerings".

In particular, it cited rising energy costs, military conflicts, global trade tensions and concerns about inflation which have led to central banks including the US Federal Reserve raising benchmark interest rates.

This week, the yield – or interest rate – on US debt repayable in 10 years' time hit the highest level since 2007.