Thursday, October 28, 2010

First Wind pulls IPO

* First Wind canceling IPO

* First Wind CEO: IPO terms "not attractive"

By Clare Baldwin

NEW YORK, Oct 28 (Reuters) - Wind farm owner and operator First Wind Holdings Inc WIND.O canceled its IPO after cutting its expected price range by 24 percent and failing to price after the close of U.S. markets on Wednesday.

"The terms that the IPO market was seeking at this time were not attractive to the company," First Wind Chief Executive Officer Paul Gaynor said in a statement.

The shares of two other U.S. initial public offerings rose in their stock market debuts on Thursday after weak pricings -- proof that the U.S. market for new issues is challenging.

Credit Suisse, Morgan Stanley, Goldman Sachs and Deutsche Bank are leading underwriters on the First Wind IPO. (Reporting by Clare Baldwin, additional reporting by Rodrigo Campos)

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