By allowing ads to appear on this site, you support the local businesses who, in turn, support great journalism.
Local poultry producer withdraws IPO
Wayne Farms says 'market conditions are not favorable'
Placeholder Image
Citing an unfavorable market, an Oakwood-based poultry producer has withdrawn its planned initial stock offering. The news comes less than two weeks after Wayne Farms filed for the IPO with the Securities and Exchange Commission, aiming to raise $234 to $269 million — selling 12.8 million shares at between $18 and $21 per share. “Although we are disappointed, the current overall market conditions are not favorable for the company to receive an appropriate valuation at this time,” said Courtney Fazekas, chief financial officer of Wayne Farms.