KEY POINTS:
For the second time in six weeks, plans for a proposed share float of a retirement home operator have been put on hold.
Yesterday's announcement that the ING Real Living retirement village business float has been deferred followed AMP Capital Investors' decision last month to pull the sharemarket float of rest home operator Summerset.
ING (NZ) managing director real estate Andrew Evans said a initial public offering of shares in ING Real Living would be revisited next year.
Market conditions were improving but "there is still a lot of nervousness making this a less than ideal environment to list," Evans said.
ING NZ, ING Australia and Symphony Investments were planning to raise up to $100 million in the IPO.
The business runs two retirement villages in the Auckland suburbs of Remuera and Epsom, and is working on another in Remuera.
- NZPA
