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SeaCastle Postpones IPO

SeaCastle Inc., a Wilmington, Del.-based lessor of intermodal equipment used in global containerized cargo trade, said that it is postponing its IPO, due to volatile market conditions. It had filed to sell 20 million common shares at between $15 and $17 per share, with Bear Stearns serving as lead underwriter.

SeaCastle would have an initial market cap of approximately $2.2 billion, were it to price at the high end of its range. Fortress Investment Group holds a 97.4% ownership position, pre-IPO.