Reuters - Carlyle-backed Japan Firm Drops IPO Plans

Carlyle Group-backed Japanese ball-bearings maker Tsubaki Nakashima Co has called off a $555 million initial public offering, citing weak market conditions, writes Reuters. Carlyle, which owns 95 percent of Tsubaki Nakashima, had planned to sell 26.5 million shares, or 70 percent of its holdings in the company in an initial public offering which could have raised as much as 43.4 billion yen ($555 million).

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