The number of withdrawn US flotations has hit its highest monthly level for more than three years, according to Dealogic, the investment banking research provider.

Fifteen companies, which had set out to raise $3bn (€2.5bn) between them, were forced to postpone or cancel floats in July. The last time the monthly withdrawal figure was as high was in April 2001 when 23 companies pulled deals worth $1.5bn.