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CEVA Logistics withdraws $400 million IPO
By: Renaissance Capital
CEVA Logistics, the world's second largest non-asset based
logistics provider, withdrew its plans for an initial public
offering on Tuesday citing unfavorable financial performance that
would adversely affect the offering. The company originally filed
for its IPO on May 4, 2012.
The Ashby, United Kingdom-based company was founded in 2007 and booked $9.4 billion in sales for the 12 months ended 6/30/2012. Credit Suisse, Deutsche Bank, Goldman Sachs, J.P. Morgan, Morgan Stanley, UBS Investment Bank and Apollo Global Securities were set to be the joint bookrunners on the deal.