Continent 8 IPO Postponed
Published: Tuesday, August 01, 2006 Online-Casinos.com
CONTINENT 8 IPO POSTPONED
Pricing concerns in a turbulent market blamed.
The Financial Times reports that Continent 8 Technologies has pulled its planned floatation in London due to market turbulence and concerns that at this time the offer would not achieve its price targets.
According to the newspaper the company, which works with the Kahnawake Gaming Commission in the Quebec Province of Canada to provide internet infrastructure to online gaming sites, is postponing its IPO.
The FT article additionally suggested that Continent 8, which has an Isle of Man office may also be scrutinised by potential investors as to the legality of its operations in Canada, which might be a stumbling block.
In earlier press material (see previous Online-Casinos.com and InfoPowa reports) Continent 8 was hoping to raise $133 million in an AIM flotation in order to expand operations.
