Reuters: Regulatory News: UPDATE 1-Community Choice Financial withdraws IPO

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UPDATE 1-Community Choice Financial withdraws IPO May 10th 2012, 20:54 Thu May 10, 2012 4:54pm EDT May 10 (Reuters) - Community Choice Financial Inc withdrew its proposed initial public offering, three days after the lender postponed its market debut due to market conditions. On Monday, the company had cut the price range of its proposed IPO of 10.7 million shares. The company, which has a network of 435 retail storefronts across 14 states, had filed for an IPO of up to $230 million last August. Investor demand for financial stocks has been weak over the last week. EverBank Financial Corp and private equity firm Carlyle Group had to cut their price before they managed to sell their stock. Community Choice, which offers short-term consumer loans, title loans and check cashing services, had applied to list its shares on the Nasdaq under the symbol "CCFI."

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