Market Prompts Transport Firms to Delay IPO
The sagging stock market and the weak economy have caused two privately held transportation companies to delay plans to offer common stock to the public.
acer International and Schneider Logistics had scheduled initial public offerings for late 2000 or early this year, but because the Nasdaq Composite Index has lost more than 60% of its value in about a year, the two corporations have put their plans on hold. The two companies are part of a general trend in which IPOs are being delayed.For the full story, see the April 2 print edition of Transport Topics. Subscribe today.
acer International and Schneider Logistics had scheduled initial public offerings for late 2000 or early this year, but because the Nasdaq Composite Index has lost more than 60% of its value in about a year, the two corporations have put their plans on hold. The two companies are part of a general trend in which IPOs are being delayed.For the full story, see the April 2 print edition of Transport Topics. Subscribe today.
