Internet direct marketer FloNetwork Inc. has postponed its initial public offering.
“We have decided to postpone the offering because we believe that the current market does not reflect the growth prospects within the Internet direct marketing sector,” Eric Goodwin, CEO of FloNetwork Inc. said in a statement. “We remain positive on our business outlook and see this postponement, until markets are more favorable, being in the best interests of our shareholders.”
On March 15, FloNetwork filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of 4,312,500 common shares.
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