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Wednesday, 7 September 2011 - Groupon IPO on hold as SEC questions remain |
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      Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Green Business Legal Deals Earnings Summits Business Video Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia Afghan Journal Africa Journal India Insight Global News Journal Pakistan: Now or Never? 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Related Topics Technology » Small Business » Groupon founder and CEO Andrew Mason attends the second day of the Allen and Company Sun Valley Conference in Sun Valley, Idaho on July 7, 2011. Credit: Reuters/Anthony Bolante By Alistair Barr SAN FRANCISCO | Tue Sep 6, 2011 4:36pm EDT SAN FRANCISCO (Reuters) - Groupon is going to wait at least a couple of weeks before launching the final phase of its initial public offering because regulators still have questions for the daily deals website and the stock market is too volatile, a person familiar with the situation said on Tuesday. Groupon had been planning to go public in mid to late September. To hit that unofficial deadline, the company would have had to launch a roadshow to attract potential investors this week or next week. A Groupon spokesman declined to comment. Groupon filed for a $750 million IPO in June, when the stock market was higher and less volatile than it is now. In such an environment, it would be difficult being the first IPO to hit the market after Labor Day, the person said. Some on Wall Street have questioned Groupon's financial disclosures, while others are concerned the company's rapid growth is starting to slow in North America. Groupon Chief Executive Andrew Mason sent a memo to employees recently that was widely reported in the media, in which he blasted critics in the press and on Wall Street. The company has received questions from the SEC about the memo, the Wall Street Journal reported on Tuesday. Regulations limit what companies can say ahead of a planned IPO. The newspaper also said Groupon had scheduled a roadshow for next week, but has called that off now. The company is not canceling its IPO, but it's reassessing the timing of an offering on a week-by-week basis, the newspaper added, citing an unidentified person familiar with the matter. (Reporting by Alistair Barr; editing by Andre Grenon) Technology Small Business Tweet this Link this Share this Digg this Email Reprints   We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Social Stream (What's this?)   Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Mobile Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Contact Us Advertise With Us Connect with Reuters Twitter   Facebook   LinkedIn   RSS   Newsletters About Privacy Policy Terms of Use Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us   Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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