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biz.yahoo.com
Thursday February 1, 3:52 pm Eastern Time
Comdisco pulls IPO for venture unit tracking stock
WASHINGTON, Feb 1 (Reuters) - Comdisco Inc. (NYSE:CDO - news) on Thursday withdrew a registration with U.S. regulators for an initial public offering of a tracking stock for its venture unit due to market conditions.
``The company is requesting withdrawal of the registration statement due to continuing unfavorable conditions in the financial markets,'' the Rosemont, Ill.-based company said in a filing with the U.S. Securities and Exchange Commission.
Comdisco, which provides information technology services, had planned offer 10 million shares of Comdisco Venture group stock in a projected range of $14 to $16 per share.
The company said the unit's stock would reflect the economic performance of the venture financing business unit, which invests in start-up companies.
According to a prospectus, which was first filed with the SEC in April, the company planned to offer 8.5 million shares in the United States and Canada and 1.5 million shares elsewhere.
Comdisco had sought a Nasdaq listing for its unit under the symbol ``CDOV.''
Acting as both U.S. and international underwriters, Merrill Lynch was granted the option to buy 1.5 million extra shares, which included 1.275 milion shares for a North American offering and 225,000 shares for an international offering. |
