January 3, 2008 / 12:15 PM / 11 years ago

UPDATE 1-Imperium Renewables to withdraw IPO plans

(Adds details, background)

Jan 3 (Reuters) - Imperium Renewables Inc, a biodiesel producer, filed to withdraw its plan for an initial public offering, citing unfavorable market conditions.

The company had filed with the U.S. Securities and Exchange Commission in May 2007 to raise as much as $345 million from its IPO.

Imperium was seeking a Nasdaq listing under the symbol “IMPR.”

In December, Martin Tobias had left his role as chief executive and chairman of the Seattle, Washington-based company, but no explanation was provided for the former Microsoft Corp (MSFT.O) manager’s departure. (Reporting by Aditi Samajpati in Bangalore; Editing by Deepak Kannan)

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