Oura, the Finnish maker of smart rings, has postponed its planned initial public offering on US markets, abandoning plans that would have valued the company at $15 billion. The decision to delay the flotation comes just days after announcing the offering, marking another setback for companies seeking public market access.

The postponement reflects deteriorating conditions in the IPO market, which began 2026 with optimism but encountered significant headwinds in the third quarter. Investor concerns—including potential artificial intelligence spending slowdowns and Federal Reserve rate increases—have dampened appetite for new stock listings. Despite robust consumer demand for its products, Oura determined that prevailing market conditions made proceeding with the offering inadvisable at this time.