Fabrinet Cancels IPO

Fabrinet Inc., a Thailand-based provider of foundry services to optical component, module/subsystem and optics OEMs, has canceled a proposed $250 million IPO, due to “market conditions.”

The company had planned to trade on the NYSE, with Morgan Stanley and Deutsche Bank Securities serving as co-lead underwriters. Shareholders include H&Q Asia Pacific (60.4% pre-IPO stake), JDS Uniphase Corp. (6.7%) and J.F. Shea Co. (6.7%). www.fabrinet.th.com