Georgia's Wayne Farms postpones $230M+ IPO

Georgia poultry giant Wayne Farms Inc. today postponed a planned initial stock offering. The Oakwood, Ga.-based company had planned to raise between $234 million and $269 million in the IPO on the Nasdaq market. The stock sale would have given the company a market capitalization of $1 billion. According to Reuters, a company executive cited unfavorable market conditions as the reason for pulling the IPO. One Wall Street research firm on June 19 warned investors away from the stock, saying, "we…