TheAssociated Pressreported that public refrigerated warehouse giant Americold Reality Trust, Atlanta, has delayed its initial public offering because it could not find enough buyers, even after cutting the price on its shares.
The news service quoted an unidentified source familiar with the company, but who requested anonymity. Americold, a Yucaipa Cos., business, had not issued a public statement as of Friday, May 7, 2010.
Americold began its public offering on April 15 with an initial price of $14 to $16 per share.APreported that Americold later dropped that price to $9 to $11 each and boosted the number of available shares offered to 60 million from 43 million.
Earlier, officials said Americold hoped to raise about $645 million to acquire its largest competitor,Versacold, based in Vancouver, B.C., Canada.
Warehouse giant Americold postpones IPO
May 7, 2010