Gram Car Carriers has postponed a planned Oslo Euronext stock listing after a lukewarm reception from institutional investors.
But the company plans to have it back on in "weeks rather than months".
"We are going to postpone now and regroup," chief executive officer Georg Whist told TradeWinds. "We need a couple more institutions to like our space."
The now-postponed listing project was mounted on 1 November.
In an announcement to investors, Gram Car Carriers said: "The IPO has attracted significant interest from investors, but the company, in consultation with its financial advisors, has decided not to complete the IPO on the basis of the prevailing conditions in the primary issue market."
Speaking to TradeWinds, Whist cited a "risk-off" sentiment following the postponement of other IPO projects on the Oslo market, and also general scepticism among large institutional investors to small projects.
"Some US and UK institutional investors got stuck on the liquidity issue," he said.
Some institutions might have come on board but at a lower price, said Whist, describing the attitude of some institutional investors.
Privately-owned Gram Car Carriers is a tonnage provider with a fleet of 16 car carriers on charter to a variety of worldwide liner companies. TradeWinds has previously reported on the company's flotation plans at a time when the supply outlook for the car carrier fleet is constricted and demand is expected to increase.
The Peter D Gram-founded company currently has about 15 shareholders.
Whist said he expects to relaunch the project within a matter of weeks rather than months.
"We just need a little more time and hopefully we'll be able to reach the finish line," he said.
