Globo (LON:GBO) has postponed a high yield debt issue, citing tough market conditions.
The mobile organiser software group wanted the money to fund acquisitions, but said it will now lower its sights on the size of deal it was after.
The company reiterated that its current cash position and income covers its operating expenses and certain acquisition opportunities.
Costis Papadimitrakopoulos, chief executive, said: “The high yield notes would have secured the resources and structure to enable us to focus on execution of more significant acquisition opportunities without the need to revisit the markets on a case by case basis.
“Market events, notably the situation in Greece and events in China impacted the market’s decision-making, making it challenging to raise the funds,” he added.
“We do, however, retain our existing strong bank finance relationships and will continue to explore opportunities for growth through acquisition and related prudent financing."