A big oil and gas company just withdrew its IPO

Freeport-McMoRan Oil & Gas has withdrawn its initial public offering, CNBC reports, citing Dow Jones
The company filed for an IPO in June 2015.

Copper and gold mining company Freeport-McMoRan, said it was considering spinning off its oil and gas business to shareholders last October.

The company had planned to list Class A common stock on the New York Stock Exchange, according to MarketWatch.

More to come…

NOW WATCH: This behaviour could kill your chances in a Goldman Sachs interview

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.