Industry News

Iggys House withdraws IPO

Company is one of five that have withdrawn registration in last two days

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Iggys House, a company that offers discount real estate services and also has mortgage operations, has withdrawn its request for initial public offering, according to documents filed Wednesday with the Securities and Exchange Commission. The company had plans to sell 3 million shares of common stock at a price of about $5 to $6 a share in its IPO, according to previous filings. (See Inman News story.) Iggys House CEO Joseph Fox said today that the poor market conditions caused the company to rethink the timing of the IPO. "We decided to push it off until later in the year when we think market conditions will be more opportunistic for us in terms of going public at that time," Fox said. Iggys House was cited as one of five companies that in the last two days have withdrawn their initial public offerings, according to a write-up in the New York Times' DealBook. In the last two days, U.S. stock markets have been on a roller-coaster ride, with the Dow seeing triple-digit swings down and up...