Eutelsat Communications Group withdrew its initial public offering due to “adverse market conditions,” the company announced Oct. 27. Eutelsat said the offering was oversubscribed, but the company was “concerned that the aftermarket performance would not, in light of the volatile market environment, reflect the fundamental value of the company.”

Eutelsat announced Oct. 11 it would offer up to 77.9 million shares for sale, about 38.8 percent of the capital stock and voting rights of the company, at a range of 15.25 euros to 17.75 euros ($18.29 to $21.28), then dropped the offering Oct. 25 to 71.7 million new shares in a range of 12 euros to 13.80 euros ($14.52 to $16.70)

The final offering had been expected to generate 824 million euros ($996.8 million).