Shimmick Construction Company, which provides heavy civil construction services to public agencies in California, postponed its IPO on Thursday. It had filed to raise $75 million by offering 6.3 million shares (33% insider) at a price range of $11 to $13. The company had originally intended to price in mid-January before moving to day-to-day status.
The Oakland, CA-based company was founded in 1990 and booked $461 million in sales for the 12 months ended September 30, 2015. It had planned to list on the Nasdaq under the symbol SCCI. FBR Capital Markets was set to be the sole bookrunner on the deal.
The article Shimmick Construction postpones its long-delayed $75 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
