Oman's Renaissance Services has pulled the planned US$500 million initial public offering of its oilfield services unit Topaz on valuation concerns and growing regional unrest, a source familiar with the matter said.
The order books for Topaz Energy and Marine, which was set for a London listing, was not fully covered by institutional investors, a banking source close to the deal told Reuters on Thursday.
The company may come back with the offering later, but has not given a timeframe, he said.
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