South Valley Bancorp Inc. withdrew its planned initial public offering, citing current market conditions.
South Valley Bancorp Inc. withdrew its planned initial public offering, citing current market conditions.
The company had filed plans in July to sell up to an estimated $46 million of common stock.
Despite healthy investor interest in the Groupon Inc. IPO last week, investors remain selective about which new stocks they are willing to bet.
PricewaterhouseCoopers’ quarterly survey of IPOs on U.S. stock exchanges showed proceeds slid to $3.1 billion in the third quarter, a stiff drop from $12.3 billion recorded in the second quarter. Twenty companies went public during the period, down from 34 a year earlier.
Read more at Market Watch.
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