| Updated:
Qatari conglomerate pulls IPO
SPECIAL INVESTIGATION: CITY AT WAR
QATARI conglomerate Aamal has pulled its plans to sell up to $600m (£371m) in shares on the London Stock Exchange.
Management at the company, which owns a range of industrial businesses in the Middle East, will postpone the listing until autumn at the earliest following a meeting with advisers yesterday.
The $2.4bn-valued company’s failure to list follows a string of abandoned London share issues, amid a crippling City war over the pricing of IPOs.
“Investors are holding onto their cash rather than agreeing to the valuation of the company,” a source close to the deal told City A.M.