Never Mind! Italian Defense Contractor Cancels U.S. IPO Nine Days After Announcing It

Italian defense contractor Leonardo DRS (OTC: FINMY) has tapped the brakes on a planned New York offering of its U.S. subsidiary, just nine days after announcing the initial public offering (IPO).

In a statement, Leonardo said, "adverse market conditions did not allow an adequate valuation of DRS," but said it could revisit an IPO later when market conditions are more favorable.

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Source Fool.com