Sun Art's trading debut delayed due to prospectus error

Sun Art will need to issue a supplementary prospectus and give retail investors a chance to withdraw their orders after overstating its earnings per share for the past three years.

<div style="text-align:right; font-size:7pt; color:rgb(119, 119, 119);"> Photo: AFP</div>

Anette Jönsson

July 15, 2011

One week ago, Sun Art Retail Group was making headlines as one of the most popular IPOs in Hong Kong this year, having just priced its $1.06 billion offering at the top end of the range after attracting significant oversubscriptions from both retail and institutional investors. Now, it looks like the company might be be remembered for something else entirely.

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