Zekelman Industries files to withdraw its planned IPO

Zekelman Industries Inc., a Chicago-based make of industrial steel pipes and tubes, has filed to withdraw its planned initial public offering, after postponing the deal last September. “The Company has determined not to undertake the public offering to which the Registration Statement relates,” Zekelman Chief Financial Officer Michael Graham said in a regulatory filing. Zekelman had planned to go public to expand its market share and pay down debt, but the filing had come at a time of great uncertainty about steel tariffs and trade wars.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Source link

Some local news is curated - Original might have been posted at a different date/ time! Click the source link for details.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Send this to a friend