Quote Originally Posted by Anna Naum View Post
Following a pre-marketing program to brokers and local and international institutional investors, Synlait Milk Limited (Synlait) advises that it has deferred its plans to IPO.

Synlait received strong support for the IPO from local institutional investors and the Lead Manager but the overall level of support was insufficient to proceed at this time.

Synlait remains committed to executing its plans and will continue to consider a future IPO and the alternative proposals centered on private capital placements that have been negotiated in parallel.
A strange rationale for pulling the float!

"Strong support from local institutional investors and the Lead Manager" would normally be enough to give the green light. Particularly as retail investors could be expected to give such an issue keen consideration, at the very least.

Would love to see the draft prospectus.