An investment vehicle designed to pump cash into agricultural land has shelved plans for an initial public offering in London due to “high levels of market volatility and uncertainty”.

The Sustainable Farmland Trust, which announced plans for an IPO last month, has now withdrawn the plans and said it will published a revised timetable in “due course”.

“We have received excellent feedback from a variety of institutional investors who have said they are supportive of the Company’s strategy and management team,” said Andy Crossley, chair of the firm.

“It is clear to us that there is demand for this differentiated farmland offering in the London market. However, owing to well-reported market uncertainty it proved a challenging time for institutional investors to make new investments, no matter how attractive the offering.”

Bosses said they now believe it would be more beneficial to “recommence the IPO at a later date”.

Subscriptions received via the intermediaries offer and offer for subscription will be returned to investors.

The firm said it continues to deploy cash despite the delay, with a pipeline of opportunities of up US$2.7bn.

The Company looks forward to making a further statement on the revised IPO timetable in due course.