Paradigm Ltd.,
a Cayman Islands-based maker of software for the oil and gas
industries, has withdrawn a $200 million initial public offering.
Paradigm did not give a reason for scuttling the offering but suggested it may pursue one in the future. Underwriters included Lehman Brothers Inc., UBS Investment Bank, Banc of America Securities LLC, CIBC World Markets Inc., Jefferies & Co., and RBC Capital Markets Corp.
Foster City, Calif.-based Fox Paine & Co. LLC owns a 92.3% stake in Paradigm, acquired in a take-private deal in 2002.
