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Telix Pharmaceuticals (New York Stock Exchange:TFX), an Australian company focused on radiopharmaceuticals, decided on Friday to withdraw its plans for an initial public offering in the United States due to prevailing market conditions.
“Since the proposed listing on Nasdaq was not based on the need to raise capital, Telix's management and board of directors have decided not to move forward with the transaction on the terms anticipated under current market conditions,” Telix (TFX) saying.
Telix (TFX), which has been listed on the Australian Stock Exchange since 2017, would have obtained a valuation of more of $4 billion if the IPO went ahead.
“While this is not the result we want Telix's strategic objectives must align with our duty to existing shareholders. I would like to thank my team for the personal commitment and incredibly long hours dedicated to this IPO process,” said CEO Christian Behrenbruch.
