The planned initial public offering (IPO) of offshore wind installer Fred Olsen Windcarrier (FOW) has been put on hold by its parent group, which cited geopolitical tensions.

FOW is owned by Fred Olsen Ocean, a subsidiary of Bonheur, the Oslo-listed holding company of the Fred Olsen Group.

“During the book building the market conditions for IPOs have been severely impacted, not at least by geopolitical tensions,” Bonheur said in a statement.