Redgate Media IPO to be withdrawn: underwriter

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NEW YORK (Reuters) - Chinese promotion association Redgate Media Group (RGM.O) will repel the focus for an primary open offering, an underwriter pronounced on Tuesday.

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The association will repel the focus due to "market conditions," the underwriter said. He declined to yield serve details.

Underwriters were led by Brean Murray, Carret Co and I-Bankers Securities Inc. The association progressing cut the limit distance of the charity to $35.4 million from $50.6 million.

Redgate Media Group provides television, radio, outside and Internet promotion services via China, it pronounced in the prospectus.

The company"s eccentric accounting organisation pronounced it had concerns about Redgate"s capability to go on as a going concern.

(Reporting by Clare Baldwin; Editing by Christian Plumb and Derek Caney)

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