Motor racing business Formula One Group has decided to delay its initial public offer on the Singapore stock exchange because of global market weakness, the Wall Street Journal said on Friday, quoting unnamed sources. It was worth up to $3 billion (1.94 billion pounds).

Formula One, whose major shareholder is private equity firm CVC Capital Partners, was in pre-marketing mode and had been planning to launch a preliminary prospectus with the Monetary Authority of Singapore by June 5, the newspaper added.

On Thursday, London luxury jeweller Graff Diamonds ditched its $1 billion IPO, adding to a chill that Facebook's botched IPO cast over an already moribund global market for new listings from Hong Kong to New York.

(Reporting by Mark Bendeich; Editing by Paul Tait)