Edwards Pulls Support Due to Uncertain Market Conditions

The technology firm Edwards has pulled its support from the proposed floatation due to the uncertainty that is prevailing in the market. This happened together with other major groups pulling out their support.

These included the Russian Sugar and grain producer as well as the Japanese Manufacturer of Luxury Bags. They got away at the last price proposed in their price range.

Edwards is of the view that they shall be able to raise as much as £450m from the preliminary offering same by the public. They are though unwilling to drop their offer price below the range of 200p to 270 p to get away with their listings.

In a statement, Edwards said there had been "strong interest from institutional investors" and that “its private equity owners are "delighted with the continued excellent performance of the company and management team”.

The sources from the market are of the view that London remains to be a major Buyer’s market. The owners of Edwards had no dire need to be raising funds and a review of the overall wellbeing of their entity is to take place after a while.

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