BCD Semiconductor Manufacturing Limited has filed with the SEC to formally withdraw its prior registration statement. In short, the company has determined not to proceed with its planned initial public offering.
You can guess the reason for the withdrawal: Market conditions. The company said it does not plan to sell securities in a public IPO for the foreseeable future due to the difficult market conditions for initial public offerings. The company did note that it advised it may undertake a subsequent private offering of securities in the future.
This might not be permanently out, but it likely won’t be coming public any time soon.
Jon C. Ogg
June 30, 2008
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