More evidence of a weakening market environment: Online measurement firm ComScore has decided to cancel a planned share sale just a few weeks after announcing its initial intentions. In an October 31 filing, the company said it was looking to sell 6.1 million shares, 4.8 million of which were coming from inside investors, for $36.52 each. The stock is up nearly 6 percent, perhaps on relief that there won’t be an influx of shares onto the market.
“The Company requested to withdraw its Registration Statement due to the unwillingness of management and other selling shareholders to sell under current capital market conditions,” the company said in a brief announcement put out today. Release.
The sale withdrawal follows a major reduction in the size and price of the Internet Brands IPO. The stock has been flat at $8 in its first few days of trading. Release.