June 18 (Reuters) - Italian luxury sneaker maker Golden

Goose has postponed its initial public offering as a result of

volatility in the European markets due to political upheavals,

the company said on Tuesday.

A significant deterioration in market conditions following

European parliamentary elections this month and the calling of a

surprise general election in France have impacted the

performance of European markets, according to Golden Goose.

It said it believes the current market backdrop is not

the right environment to take the company public.

Earlier in the day, bookrunners said the IPO was

oversubscribed multiple times, at 9.75 euros ($10.47) per share.

It was earlier estimated to be priced at between 9.50 euros and

10.50 euros.

Golden Goose, owned by private equity firm Permira, was

aiming

at a market capitalization of up to 1.86 billion euros,

which was below expectations.

($1 = 0.9314 euros)