Wayne Farms Inc (WNFM.O), the sixth-largest broiler chicken producer and processor in the United States, withdrew its initial public offering on Thursday, citing "market conditions."
The subsidiary of Continental Grain Co, one of the largest privately held U.S. corporations, was expected to sell 12.82 million Class A shares in the offering.
"The current overall market conditions are not favorable for the company to receive an appropriate valuation at this time," Chief Financial Officer Courtney Fazekas said in an email.
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