Amscan Holdings, the US maker of party goods, has pulled its initial public offering (IPO) in the latest blow for the struggling US IPO market.

Amscan, whose products include balloons and party decorations, said in a statement filed with the US Securities and Exchange Commission that it "does not intend to conduct the offering of shares contemplated in the registration statement at this time given valuations currently available in the equity markets". The company planned to raise $180m (€161m).