Rocket Internet-backed meal delivery service HelloFresh hoped to raise around $332m from an initial public offering.

Germany-based recipe and meal delivery service HelloFresh, majority-owned by e-commerce group Rocket Internet, has put its initial public offering on hold due to market conditions, Reuters reported on Sunday.

The company filed for a €300m ($322m) IPO on the Frankfurt Stock Exchange last month.

HelloFresh operates a subscription-based service that sends users recipes along with the precise quantities of ingredients needed to cook the meals. The service is available in seven European countries as well as the US, Canada and…