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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 buying into nickel-linked assets on the basis that it may be the next to fall.

ôThere was a high degree of sensitivity because of where commodity prices are heading at the moment, says a source...
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