IPC Systems Holdings Corp., a Jersey City, N.J.-based provider of integrated communications solutions to financial services companies, has withdrawn its registration for a $400 million IPO. No explanation was provided. Silver Lake Partners has owned the company since a late 2006 buyout.
PNA Group Holding Corp., an Atlanta-based steel processor and distributor, has raised its IPO target from $175 million to $200 million. It has not detailed how many shares it plans to sell, or at what price. PNA expects to to trade on the NYSE under ticker symbol PNA, with Citi and UBS serving as co-lead underwriters. It was acquired in 2006 by Platinum Equity, and originally filed for its IPO over one year ago.
RHI Entertainment Inc., a New York-based producer of made-for-TV movies and other television programming, has set its IPO terms to 12.5 million common shares being offered at between $16 and $18 per share. It plans to trade on the Nasdaq under ticker symbol RHIE, with JPMorgan and Banc of America securities serving as co-lead underwriters. RHI was previously known as Hallmark Entertainment, before being acquired and renamed by Kelso & Co. and members of company management in January 2006. Later that year, RHI acquired the domestic rights to Crown Media’s film library, which Crown had originally bought from Hallmark Entertainment six years earlier.
Towry Law, a UK-based financial services company, is planning to float later this year, according to The Independent. The company is partially owned by Palamon Capital Partners.
Yangzhou Chengde Steel Tube Co Ltd. has retained Lehman Brothers to help it explore strategic options, which could include an IPO. The Carlyle Group acquired a 49 percent stake in the Chinese company last year for $100 million.