Delphi is remaining quiet concerning reports it is about to unveil an initial public offering of US$550m.
Some speculation had suggested the IPO could be as early as today (4 November) with others mooting a November date, but the automotive supplier is keeping its cards close to its chest.
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Delphi would not elaborate on the speculation, but issued a statement noting: “The company continues to operate in a ‘quiet period’, as required by the US Securities and Exchange Commission [SEC] so is unable to provide any information beyond the data currently available in its Form S-1 Registration Statement filed with the SEC.
The automotive supplier has previously said any IPO would be used primarily to fund its operations, acquire capital equipment and repay debt.
