Edwards Group has dropped its plans to raise £350 million in an initial public offering (IPO), Financial Times reports. The vacuum technology supplier has shelved its plans after institutional investors declined to meet the minimum valuation demanded by its private equity owners under its flotation plans. In 2010, the company had hired Matthew Taylor, a former managing director of Land Rover and CEO of JCB, to lead the sales process. It had planned to list the stock on the London Stock Exchange, adds The Independent.

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