Dart Energy has shelved plans to separately float its international business due to poor market conditions and a fall in its own share price.

Dart, which has interests in coal bed methane in eastern Australia, Asia and Europe, had been planning to list Dart Energy International (DEI) on the Singapore Stock Exchange for about eight months.

On Tuesday, it said that plan would now be deferred.

The separate listing was being pursued to realise the true value of the company’s overseas assets, Dart said.

“The board does not believe a listing of DEI could currently be achieved in a way that achieves this objective given the current poor equity market conditions and the substantial decline in Dart’s share price over the past 12 months,” the company said in a statement.

Dart shares have fallen from 72 cents to 20 cents in the last year.

DEI was ready for an initial public offer (IPO) and the listing would be reviewed as market conditions improved, Dart said.

The company had sufficient funds to meet its operating needs over the next 12 months, it added.