Luxfer gets cold feet in New York

15 Dec 2011

Luxfer, the UK materials technology company, on Wednesday postponed its $190m New York initial public offering, blaming volatile market conditions. The deal was launched last Friday, seeking to place 10.75m American depository shares at $13-$15.

“We will consider recommencing the IPO when market conditions are more stable,” said chief executive Brian Purves.

Jefferies and Credit Suisse are joint bookrunners, and KeyBanc Capital Markets and Dahlman Rose & Co are co-managers.

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