Company behind Florida migrant children camp drops IPO plans

MIAMI -- The corporation behind a Florida detention camp for migrant children abandoned its plans to go public Tuesday as controversy grows around policies that lock up children crossing the Mexico border.

The U.S. Department of Health and Human Services, which takes custody of children who cross the U.S.-Mexico border, announced in December that the facility was expanding from 1,350 to 2,350 beds. Officials said the Homestead detention center in a Miami suburb is one of the largest and the only one run by a for-profit company.

The Obama administration opened Homestead as a temporary shelter for up to 800 migrant teens for 10 months in 2016. The private equity company formed Caliburn in August by grouping Comprehensive Health Services and three other companies. "It doesn't seem like the equity markets are all that bad or that we had a downturn just yet," Ibrahim said."My guess is big investors either don't want to be associated with this company or they are afraid the business model is not going to work out because of the negative press."

México Últimas Noticias, México Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Read the letter Lyft's founders wrote to investors that was included in the company's IPO filingLyft founders Logan Green and John Zimmer outlined their vision for the future in a letter to investors as part of the company's IPO paperwork.
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »

Lyft IPO: 5 things the ride-hailing company just revealedLyft Inc. appears poised to beat rival Uber Technologies Inc. to an initial public offering after filings its paperwork Friday, and that’s important for a number of reasons.
Fuente: MarketWatch - 🏆 3. / 97 Leer más »

Elastic shares fall after software company's post-IPO lock-up period expiresSome tech companies that have gone public in recent years have seen their stocks hit after insiders have gotten the chance to let go of some shares. And nobody said limp or inert They will bounce back 🤖
Fuente: CNBC - 🏆 12. / 72 Leer más »