Lance Uggla, chief executive of financial services information company Markit Group, has ruled out an initial public offering during the next 12 months, quashing industry speculation that a listing was being lined up for this year.

Uggla told Financial News: "Given our size it would at some point make sense to pursue an IPO as an option for giving liquidity back to our shareholders. But my personal view is that Markit should continue on its clear path for the next 12 to 24 months. So there will be no IPO this year, contrary to rumours in the marketplace."