It is a gloomy start to the year for the primary market. Depressed market conditions have already claimed their first victim with Goodwill Hospital and Research Centre withdrawing its initial public offer.

It was the first company that had tried to fight the gloom in the capital market since October 5, 2011. This highlights the nervousness among investors and lack of enthusiasm about the IPO market. Moreover, Investors have stopped participating in the secondary market due to slowdown fears and endless eurozone concerns.

The company has decided to withdraw in the morning of last day of IPO itself. The initial public offering opened for subscription during December 30, 2011 to January 09, 2012 – i.e. opened for 7 days.

There was participation only from some retail and non institutional investors while qualified institutional investors did not participate.

Attn Members: Book Running Lead Manager to the issue has informed the Exchange that the Book Building issue of Goodwill Hospital and Research Centre Limited has been withdrawn.

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