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IPOs Shelved at Record Pace

Companies canceled or put off $8.9 bln in offerings amid Q3 stocks plunge

By Lee Spears, Zijing Wu, Bloomberg News | Updated on September 29, 2011

Companies canceled or postponed $8.9 billion in initial public offerings in the third quarter as stocks plunged, putting the market on pace to set a record for pulled deals.

The value of withdrawn and delayed IPOs so far this year rose to $34 billion, approaching the $40 billion pulled in 2010, the most since Bloomberg began compiling data. Siemens AG suspended an IPO of its Osram lighting unit, while U.S. defense equipment maker ADS Tactical Inc. and Shanghai-based Xiao Nan Guo Restaurants Holdings Ltd. abandoned offerings.

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