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[2007-08-03] Cunico postpones IPO due to market conditions LONDON, Aug 3 (Reuters) - Cunico Resources (CNCO.L: Quote, Profile , Research), a mining company with operations in eastern Europe and Zambia, said on Friday it has postponed its planned initial public offering because of market conditions.
"Cunico Resources announces that, due to current market conditions, its offer of ordinary shares has been postponed until further notice," the company said.
The nickel, copper and cobalt miner planned to raise about $580 million in the IPO, valuing the company at around $2.3 billion.
© Reuters 2007. Source: © Reuters 2007. All Rights Reserved.
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