FTSE 100's Winning Run to Be Tested
There was a blow for the London market last night, however, when Cobalt Holdings said it has decided not to proceed with its IPO.
The company had been due to debut on Thursday in an offering aimed at raising $230 million. That money was to be used to by physical cobalt from Glencore, which is one of the firm's backers.
'The company intends to explore options, including possibly funding the business privately,' Cobalt Holdings said in a statement to Bloomberg.
It had been one of the bright spots in what remains a very quiet market for listings in London, so its decision once again will deliver a hit to any tentative momentum that was building.
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