Software company Misys abandons IPO plans

LONDON, Oct (Shenzhen: 000069.SZ - news) 27 (Reuters) - Software (EUREX: 1625887.EX - news) company Misys said on Thursday that it will not proceed with its plans to list on the London stock market at this time, adding to a run of aborted listing attempts in recent weeks.

The company said earlier this month that it had hoped to raise around 500 million pounds ($611.00 million) from its initial public offering, and had been working on building its books for more than a week.

"Despite encouraging institutional support Misys Group Limited has decided not to proceed with its potential initial public offering at the current time due to market conditions," Misys said in a statement.

Uncertainty over Britain's decision to leave the European Union has hit the value of companies listing in London, which fell to the lowest level in four years in the first nine months of the year according to Henderson Managed Investment Trusts. ($1 = 0.8183 pounds) (Reporting by Rachel Armstrong; editing by Simon Jessop)