China-based cloud-based digital media company Xunlei said in a statement it had shelved the initial public offering "due to stock market conditions".
IDG Technology Venture Investment III, a venture fund run by US-based media company International Data Group (IDG), has a 12.2% stake in Xunlei, while US-based search engine Google has a 2.8% holding.
The company is also backed by venture firms Vantage Point Global (27.5%), Morningside Technology Investments (24.6%), Ceyuan Funds (11.3%). Another shareholder is Aiden & Jasmine Limited (10.8%).