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Internet Group IPO suspended


2007-03-30

The Financial Supervision Authority (KNF) has decided to suspend the IPO of the Internet Group, a telecommunications company, because of flaws in the issue prospectus. The investor should have been able to have applied for the shares as of 2 April, but the Authority ordered that the procedure be postponed until 4 April.
The Authority claims that the prospectus misleads investors about the value of the share issue, that it might thus be detrimental to their interests and that it cannot, therefore, be the basis of the IPO.


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