Broker Clear Street Postpones IPO Citing Market Conditions (2)

Clear Street Group Inc., a Wall Street broker built on cloud computing technology, has postponed its US initial public offering after cutting the target by nearly two-thirds.

The company made the decision due to market conditions, according to a spokesperson. Clear Street had already downsized its offering Thursday to 13 million shares at $26 to $28 apiece. It had previously been offering 23.8 million shares for $40 to $44 each.

The listing generated strong interest from investors, and Clear Street intends to reconsider an IPO at a later time, the spokesperson said in emailed comments.

The pricing comes after ...