Blackstone-Backed HR Provider Alight Hits Pause On IPO

Law360 (March 21, 2019, 4:58 PM EDT) -- The Blackstone Group-backed human resources and benefits coordinator Alight Inc. said it will hold off on moving forward with an anticipated initial public offering that could have seen the company bring in approximately $752 million.

Alight chose to postpone the offering, giving little explanation for its decision. The company earlier this month set the stage for the sale of 32 million shares, having set a price range for its offering between $22 and $25.

"We have determined not to move forward with an IPO at this time," the company said in a statement Thursday. "We look forward to continuing to deliver...

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