Not So Fast, IPO on Hold says SM Line

After announcing that they would, Korean-based SM Line has back-peddled and announced a hold on their initial public offering.

SM Line was projecting to raise an approximate $722 million from the listing in Seoul yet, there shows to be few institutional investors interested which has caused for the hold.

SM Line said, “We have completed all the preparations for the IPO, however, rather than rushing to list, we decided to dispel market concerns and re-launch the IPO at an appropriate time.”