London-headquartered Graff Diamonds said it will postpone its $1 billion initial public offering in Hong Kong owing to rocky market conditions that dampened investor appetite, according to reports.

The much-anticipated listing was cancelled a day before it was due to price amid a widespread sell-off in the global equity markets.

Graff's flotation is the largest to be pulled in Asia so far this year, in a long line of shelved offerings. Hong Kong's benchmark Hang Seng Index has fallen over 10 per cent in May.