SYDNEY (Reuters) - Australia's Ardent Leisure Group said on Friday its Dreamworld theme park will remain closed following the death of four people on a water ride, scrapping its initial plan to reopen this week.

Two men and two women were killed on Tuesday after getting trapped under an upturned raft on the Thunder River Rapids Ride at Dreamworld, near the tourist-magnet Gold Coast district in northeastern Queensland.

Dreamworld had planned to reopen on Friday, but abandoned the plan after a public backlash.

Dreamworld CEO Craig Davidson said the park would not reopen until after the funerals of the victims, while the rides will remain closed until police investigations are finalised and additional safety checks are completed.

Shares in Deamworld's parent company, Ardent Leisure Group closed down more than 5 percent on Friday and were down more than 20 percent for the week.

(Reporting by Colin Packham; Editing by Richard Pullin)