WASHINGTON-Another wireless company has pulled the plug on its initial public offering.
Handset distributor Brightstar Corp. canceled its planned IPO Wednesday, citing “market conditions and certain other factors,” according to regulatory filing. In August, Brightstar had filed for a $115 million public stock offering.
The Miami-based wholesaler distributes handsets for several manufacturers, most notably Motorola. Citigroup and Lehman Brothers were to have led the IPO, according to filings.<
