Billionaire Sunil Mittal’s Bharti Airtel Ltd is postponing a planned listing of its US$8 billion (RM33.44 billion) African wireless unit by about half a year, people with knowledge of the matter said.

The firm was originally aiming to list the unit in London by March, according to the people.

A Bharti representative said preparations are proceeding “as per plan and there is no change.”

Last week, Singapore entrepreneur Ron Sim confirmed delaying plans to relist the owner of Osim, Asia’s biggest massage chair maker, in Hong Kong.

STX Entertainment, the US film studio backed by Chinese tech tycoon Pony Ma’s Tencent Holdings Ltd, is also shelving a proposed listing in the city.

The volatility threatens what’s been a banner year for listings out of Asia, with companies raising funds at the fastest pace in eight years, according to data compiled by Bloomberg.

Asian firms have completed US$81.3 billion of first-time share sales this year, up from US$71.6 billion during the same period in 2017, the data show.

Asia has contributed some of the world’s biggest equity offerings this year, as well as some of the biggest flops. Among the five worst-performing major IPOs globally, three come from Asia, data compiled by Bloomberg show.

Vietnamese luxury developer Vinhomes JSC has fallen 33% through Monday since its US$1.4 billion IPO in May.

Smartphone giant Xiaomi Corp, whose listing raised US$5.4 billion, has shed 29% since it began trading in July.

Other deals are also being affected by the turmoil. Tencent’s online music arm was earlier pausing its plans for a US IPO, a person with knowledge of the matter said this month.

Indian real estate company Lodha Developers Ltd has also postponed an IPO, in which it had initially anticipated raising about 55 billion rupees (US$749 million), people with knowledge of the matter have said.