(Reuters) – Three initial public offerings were postponed on Tuesday, the latest casualties of volatile market conditions.
Offerings by Portuguese mobile marketing and payment services provider TIM w.e. SGPS SA, which was expected to raise $146.3 million, and 3-D motion-sensing company InvenSense Inc, a VC-backed company due to raise $99.8 million, were postponed, underwriters said. The $180 million IPO of Seattle-based lender HomeStreet was also sidelined, an underwriter said.
Invensense, founded in 2003, raised a total of $53 million in venture capital between 2004 and 2008, according to Thomson Reuters (publisher of peHUB). The company’s backers include Artiman Ventures, DoCoMo Capital, Partech