(by Geck Finn)

The planned initial public offering of Capital Insurance Holdings, a company aimed at consolidating smaller listed Lloyd’s of London companies, has been postponed. The IPO would be restructured and relaunched in September.

Capital Insurance Holdings was due to be listed on London’s Alternative Investment Market on Monday.

The AIM listing floundered, sources said, because despite strong backing from investors in the United States, there was insufficient support for the plan from U.K. investors.

Under AIM rules, companies listing on the exchange cannot do so with more than a 30% investment from U.S. sources.

Mr. Wade had said that he aimed to attract £125 million ($228.8 million) from institutional shareholders, and that Omaha, Neb.-based Berkshire Hathaway Inc. had pledged to take a 25% stake in Capital Insurance Holdings.

Once it had gained initial investment, CIH would seek to attract the investor owners of smaller listed Lloyd’s companies—those with average market capitalization of £133 million ($247.4 million)—into the group, Mr. Wade said.

Sources also noted that some U.K. investors that already have stakes in listed Lloyd’s companies were reluctant to put up new money to back the initial public offering, noting that if CIH did succeed in consolidating smaller Lloyd’s vehicles, they would automatically have a stake in the new company.