UPDATE 1-Vedanta's CopperTech Metals delays US IPO

CopperTech Metals (Postponed)

CopperTech Metals (Postponed)

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June 30 (Reuters) - CopperTech Metals has decided to delay its U.S. initial public offering, a company spokesperson said in a statement, citing volatility across the global copper equity sector.

The company was set to price the offering later on Tuesday and mark its debut on the NYSE on Wednesday.

"Following careful consideration of current market conditions and recent volatility across the global copper equity sector, Vedanta and CopperTech have decided to postpone the proposed IPO," a spokesperson said in a statement to Reuters.

CopperTech had planned to raise $423.5 million in the IPO by offering 23.5 million shares priced between $16 and $18 apiece, and aimed for a valuation of up to $3.57 billion.


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