The great tech IPO drought continues.
In the latest sign that the market is really not that interested in tech industry IPOs, chipmaker Allegro Microsystems today filed with the SEC to withdraw its planned initial offering, citing “current market conditions.” Which might have been a nice way of saying no one was all that interested.
Not a good debut today for GT Solar, a Merrimack, N.H., company that makes equipment used to manufacture solar wafers, modules and systems. The company went public today at $16.50 a share, selling 30.3 shares, for total proceeds of about $500 million.
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