Frankel Backs Off On IPO Plan

Volatile Market Puts Stock Offering On Hold
CHICAGO–Frankel & Co. once again is stepping back from its previously announced intentions to become a publicly held company and has put on hold, at least through the remainder of 1998, its plan for an initial public offering of stock.
“This is no market to be public in,” Bud Frankel, chairman of the promotional marketing agency, said of the market’s recent gyrations. “It’s been clear over the last three to four months that the bloom is off the rose” for smaller, low-capitalization companies such as Frankel, he said.
The agency first announced its intent to pursue a public stock offering two years ago.