South African scaffolding company Waco International this morning abandoned its $600m (€499m) Johannesburg Stock Exchange listing and said it was talking to potential trade buyers instead. The listing would have been the third-largest in the country's history.

UBS was set to lead Waco's float, and had been expected to announce a price range for the deal this morning.

Harry Wilson

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Waco abandons listing as bidders circle

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