Nickel Asia becomes second issuer to pull IPO in two days
The Philippines-based nickel miner fails to attract enough demand for its Toronto listing amid sliding commodity prices.
Nickel Asia has spiked its Toronto initial public offering after failing to attract enough investors, becoming the second Asian company to pull an IPO in two days.
The Philippines-based miner, which was aiming to raise up to $180 million, had been hoping to ride on the global shortage of nickel which has sent prices of the metal to record high levels. However, a slide in other commodity prices, including oil and gold, in recent weeks has made investors hesitant about...
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