The withdrawal by the property financing company Urban Exposure of its IPO offering has raised waves of concern that the good times for initial public offerings may be drawing to an end. The company said it had received a significant level of interest from investors, but that the overall environment for IPOs is currently poor. The Guardian reports that from January to early June, 40 companies raised GBP 5.7bn bettering a record set in 2007. But it points out that subsequent offerings, such as Pets at Home and AO World have seen their share prices suffer serious declines. In May, morever, the fashion company Fat Face cancelled its IPO while the property management company Clipstone blamed the slow summer season last week for its loss of IPO nerve.
