Chobani drops US IPO plan

Greek yogurt maker Chobani is withdrawing its plans for an initial public offering in the United States after having delayed its listing plans earlier this year, marking the first high-profile casualty of the current slowdown in stock market flotations, reports Reuters.
Chobani cited "current market conditions" in its decision to scrap its IPO. The move comes after the company delayed its plans for a stock market launch late last year and then again earlier this year, according to people familiar with the matter.
Volatile market conditions have forced investors to pull back from stock market launches, which have screeched to a halt due to market conditions that took a turn for the worse after Russia's invasion of Ukraine.
IPOs in the United States are on track for their worst year in over two decades, according to Dealogic which tracks listing data going back to 1995.