E-Land pulls IPO as Artini raises $80 million

Sources say E-Land had enough interest for its deal at the bottom of the price range, but the company chose to walk away.

The management of E-Land Fashion China decided yesterday to postpone its Hong Kong initial public offering even though the deal was covered at the bottom end of the price range. The decision disappointed investors and bankers, who had hoped that the first few deals in the second quarter would send a positive signal to the market and smooth the way for the numerous other IPOs in the pipeline.

However, observers say the fact that the offering was covered was...

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