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Cooler maker Yeti withdraws IPO

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Cooler maker Yeti withdraws IPO

Cooler maker Yeti Holdings Inc. said March 23 that it will no longer pursue an initial public offering due to "market conditions."

The company applied to list on the New York Stock Exchange in July 2016.

Yeti was reportedly planning to seek a valuation of about $5 billion in its IPO, which was initially expected to happen in September 2016, The Wall Street Journal reported March 26. However, the company reportedly started considering alternatives to a public offering, including raising private funding.

Yeti requested the Securities and Exchange Commission that all fees paid related to the IPO filing be credited for future use.

Similarly, airline caterer gategroup Holding AG on the same day scrapped its planned listing on the Swiss stock exchange, citing a "gap in valuation" under current market conditions. Brazilian toy retailer Ri Happy Brinquedos SA also decided to delay an IPO due to weak investor demand.