I-MED Radiology pulls plug on IPO in Australia

Global market volatility claimed another victim as Australia's largest X-ray provider, I-MED Radiology Network, this week pulled its planned $350 million initial public offering, Reuters said. Reuters reported that I-MED's owner, the Swedish private equity firm EQT Holdings AB, cancelled the sale of a 50% stake in I-MED after the company completed its Asia roadshow. According to the news agency, the decision followed smaller rival Integral Diagnostics pricing an initial share sale at the bottom end of an A$133 million to A$157 million range. Report