Chinese firms believe tough market can be beat
China South Locomotive prepares for a near simultaneous listing in Shanghai and Hong Kong by pre-marketing the $600 million H-share portion of the deal.
So far, the IPO market in 2008 has been all about finding and taking advantage of the few brief windows when equity investors have been receptive to new issues. For quite a few issuers, getting the timing wrong has meant pulling the deal just before pricing, or going ahead and watching the share price slide in the secondary market.
And the situation is showing few signs of improving with equity markets in both the US and Asia still highly volatile...
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