Eni has postponed the initial public offering of ordinary shares in its renewables arm Plenitude for listing on Euronext Milan.
The Italian energy giant said “market conditions have deteriorated” since Plenitude and Eni announced the intention to float on 9 June.
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“While there was strong and widespread investor interest in Plenitude and important support for its strategy, it was concluded that the volatility and uncertainty currently affecting the markets require a further phase of monitoring,” the company said.
“Plenitude will continue to monitor market conditions and deliver their strategy of offering decarbonised energy to their customers, through the development of renewables and electric mobility investments,” it added.