Forum Oilfield withdraws plans for $345 mln IPO

Mon Feb 11, 2008 8:09pm GMT
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WASHINGTON, Feb 11 (Reuters) - Forum Oilfield Technologies Inc filed with regulators on Monday to withdraw its plans for an initial public offering, saying it was no longer going forward with the IPO because of "market conditions."

The manufacturer of products for the oil and natural gas companies had previously filed with the U.S. Securities and Exchange Commission to raise up to $345 million in its IPO.

Credit Suisse and JPMorgan were listed as the underwriters for the offering. (Reporting by Karey Wutkowski, editing by Dave Zimmerman)

 
 
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