An unhealthy cocktail of market volatility, low interest rates and uncertainty around the UK’s vote on EU membership has led to $7.7 billion worth of European equity capital market deals being withdrawn or postponed in 2016.

A total of 25 European companies have canned plans to float or raise equity this year, including Lloyds Banking Group's $3 billion retail offering and low-cost Spanish airline Volotea's $167.5 million IPO, which were both cancelled in January, according to data from Dealogic.