Momentive withdraws initial public offering

Momentive withdraws initial public offering

5:56 AM, 3rd September 2012
Momentive withdraws initial public offering

COLUMBUS, US: Specialty chemicals manufacturer Momentive Performance Materials Holdings LLC filed with regulators to withdraw its proposed initial public offering (IPO) of common stock. The company, which focuses on production of thermosetting resins, silicones and silicone derivatives, had in April last year filed to raise up to $862.5 million in its offering. Momentive did not mention a specific reason behind its decision to pull the IPO in the registration statement filed on 31 August 2012 with the US Securities and Exchange Commission.

© Reuters News

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