ComScore Cancels Stock Sale, Citing Market Conditions

From the Associated Press
ComScore, which provides data and research about online consumer behavior, said today it has canceled its proposed underwritten public offering of 6.1 million shares, citing unfavorable market conditions.

On Friday, the Reston company applied with the Securities Exchange Commission to withdraw its registration statement for the offering.

ComScore shares jumped $1.57, or 5.6 percent, to $29.87 in morning trading. The stock has traded between $19.70 and $42 since the company's initial public offering priced at $16.50 in late June. After ComScore announced the follow-on public offering on Oct. 31, the company's shares dropped 14 percent in one day.

"The company requested to withdraw its registration statement due to the unwillingness of management and other selling shareholders to sell under current capital market conditions," ComScore said in a statement.

By Mike Shepard  |  November 26, 2007; 11:41 AM ET  | Category:  Technology
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