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'Buffettology' investment trust pulls London IPO

FILE PHOTO: FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain
FILE PHOTO: FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain

LONDON (Reuters) - An investment trust following the principles of veteran U.S. investor Warren Buffett said on Monday it had decided not to proceed with an initial public offering in London.

In a statement the Buffettology Smaller Companies Investment Trust said that "overall demand" had not been sufficient to secure the minimum proceeds it had proposed to raise.

The company said last month it had planned to raise a minimum of 100 million pounds from a listing.

(Reporting by Rachel Armstrong; editing by Simon Jessop)