AEI (AEI) Pulls Proposed IPO Citing Market Conditions

October 30, 2009 7:20 AM EDT

After cutting the price of its proposed IPO mid-day yesterday, after the close, AEI (NYSE: AEI) said it has decided to pull the proposed offering.

In a statement the company said, "We have decided not to proceed with an initial public offering of our shares at this time due to market conditions. We continue to see a number of attractive opportunities in owning and operating essential energy infrastructure businesses in emerging markets worldwide. Our exclusive focus on providing critical services to the development of these markets as well as the continued strong support of our major shareholders position us well to continue to grow."

The company was planning to 21 million shares at $12-$13, down from 50 million shares at $14-$16 million.

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