NEW YORK -- Xunlei, a leading consumer internet platform for digital media in China, announced Wednesday it had postponed its initial public offering (IPO) on the NASDAQ Global Select Market.

The company, which was scheduled to go public on July 20, said in a statement it decided to postpone its IPO due to stock market conditions. However, the company did not provide more details about the decision.

Xunlei Limited, founded in 2003, provides digital media content downloading and online video streaming as well as cloud-based subscription services.

The company plans to issue 7.6 million shares in a price range of $14 to $16 a share in its IPO. JPMorgan and Deutsche Bank Securities are the lead underwriters on the deal.