Market volatility has prompted Chicago-based data security firm Trustwave to postpone its initial public offering, which was scheduled for Thursday.
The company issued a brief statement on Wednesday evening attributing the delay to "market conditions." It offered no further details on when it might go public. Trustwave had filed for an IPO in April, seeking to raise around $100 million.
Trustwave joins a list of companies putting off their IPOs until market conditions improve. Turbulence in markets tends to be bad for IPOs because new companies without financial track records are seen as risky assets, which investors shun in downturns.
According to Renaissance Capital, a research firm that specializes in IPOs, eight of 12 companies scheduled to go public this week have postponed their debuts. Trustwave's delay brings the total to nine.
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