International Market Centers Withdraws IPO

December 16, 2015  by in Business Strategy, Industry   

The company, which owns showroom buildings in Las Vegas and High Point, filed the withdrawal request Monday citing poor market conditions. In May, the company filed to postpone its $150 million IPO.

Founded in 2011, the company had $166 million in sales for the 12 months ended March 31. The original plan was list on the New York Stock Exchange under the symbol IMC.

In April, International Market Centers said it expected its public offering price to be between $12 and $14 per share. At the time, the company was planning to sell 11.5 million shares of its common stock as part of its planned initial public offering that was announced last year. The IPO was expected to give IMC a stock market value of more than $1 billion.