AMSTERDAM, Dec 4 (Reuters) - German builder Hochtief cancelled late on Thursday what would have been Germany's largest initial public offering (IPO) for two years, as its concession unit failed to attract enough commitments.

The company planned to raise up to 1 billion euros by selling new and existing shares and floating 49 percent of the unit, which comprises mainly participation in airport concessions, but also roads and social infrastructure projects.

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Posted by claire at December 5, 2009 6:41 PM