Dometic Withdraws Proposed IPO Dec 4, 2003

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Swedish speciality refrigerator maker Dometic International AB (Stockholm, Sweden) and EQT Northern Europe announced on Dec. 3 that they have decided to withdraw the proposed Initial Public Offering (IPO) of shares in Dometic.

The IPO should have taken place the same day as the announcement to withdraw the offer, according to prior announcements from the company.

Although the shares being offered were more than fully covered by the indicated investor demand and were within the proper price range, demand from IPO investors was insufficient to ensure a successful post-IPO market for the shares, according to a press release from Dometic announcing its withdrawal of becoming a publicly traded company.

Dometic says it continues to perform well with "excellent prospects," and EQT Northern Europe is committed to participate in the future development of Dometic as principal shareholder.

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