Deutsche Beteiligungs, a German venture capital company listed on the Frankfurt Stock Exchange, warned that its pretax profit for the year may be &quotonly slightly positive&quot and well below last year's €43m ($36.4m) due to the failed public offering of Lignum Technologie.

Lignum, a German company that manufactures wood processing machinery used to make furniture, pulled its initial public offering Tuesday, citing poor market conditions. The company had said as recently as last week that it planned to proceed with the IPO despite the dismal market.