Singapore: Formula One is waiting for "the most opportune" time to launch its $2.5 billion share sale in Singapore after turbulence returned to financial markets, a source said on Friday.
The glitzy motor sport was given the go-ahead last month for an initial public offering, just days after Facebook's disappointing initial public offering (IPO) fell flat in New York. However, no launch date has yet been set.
"Everything has been moving. We're just waiting to see how markets are doing and then we'll press the 'go' button.... We are looking at the most opportune time to launch," a person familiar with the deal told AFP.