Philippine tycoon puts off $474m Prime Infrastructure IPO on bearish market

Philippine tycoon puts off $474m Prime Infrastructure IPO on bearish market

FILE PHOTO: Enrique Razon, businessman and owner of casino operator Bloomberry Resorts, listens to a question during a stockholders meeting' in Manila June 24, 2013. REUTERS/Romeo Ranoco

Philippine tycoon Enrique Razon has delayed to the middle of next year plans to launch an up to 28 billion pesos ($474 million) listing for his infrastructure and energy holding firm because of a market downturn, its underwriter said on Monday.