UPDATE 1-Italy's Rhiag pulls IPO


* Rhiag was to be first IPO on Milan's main board in 2011 * Company blames adverse markets for weak valuation * Not covered by offers near bottom of target range - source (Adds details, company confirmation, background) By Nigel Tutt and Massimo Gaia MILAN, May 26 (Reuters) - Rhiag-Inter Auto Parts Italia withdrew its initial public offer, confirming earlier comments to Reuters from market sources who said the private equity sellers failed to get the price they wanted. The IPO -- ...

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