Harrah's Folds on IPO Plans
November 22, 2010- Share:
Harrah's Entertainment has canceled its IPO plans, citing market conditions as the reason for its decision. The casino company had intended to offer 31.25 million shares of common stock at a price range of between $15 and $17 per share and to list on the NASDAQ under the symbol CZR. Harrah's has been backed by a group of investors, led by Apollo Global Management and TPG Capital, since a $30.7 billion LBO in 2008.
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