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Q: Is there any precedent for a company pulling a hotly anticipated IPO amid concerns about its valuation? Especially ones in the real estate leasing arbitrage business?
A: Why yes: Regus.
independent.co.uk/news/business/…
A: Why yes: Regus.
independent.co.uk/news/business/…
From the Independent in 99 (no link)
"Mr Dixon - and advisers Merrill Lynch International - appeared to hope the float would value Regus at between nine and ten times its revenue, or roughly #1bn. For a business in a new market, it proved to be an overly optimistic multiple"
"Mr Dixon - and advisers Merrill Lynch International - appeared to hope the float would value Regus at between nine and ten times its revenue, or roughly #1bn. For a business in a new market, it proved to be an overly optimistic multiple"
"Property market analysts point out that Regus has little in the way of assets to back its cash flow as its burgeoning crop of centres are leased, not owned outright."
