The formal owner of National Beef Packing Co. has postponed its planned its initial public offering in New York.

National Beef Inc., which has been set up to become the "managing member" of National Beef Packing Co., announced plans in October to list its shares on the New York Stock Exchange.

However, the firm announced a postponement last night (17 December), citing "current weakness in the IPO market".

The estimated price range for the initial public offering was $15.00 to $17.00 per share.