AAG Energy postpones Hong Kong IPO

The Chinese natural gas producer blames a challenging IPO market, while Zhengzhou Coal’s stock slides nearly 9% in its trading debut.

AAG Energy, a Chinese natural gas producer, has decided to put off its initial public offering of $160 million to $200 million due to a difficult environment for IPOs in Hong Kong, a source said yesterday.

The company was expected to start the bookbuilding yesterday with the aim of listing on December 20, but after about a week of investor education it decided to postpone the launch. While there is no new timetable at...

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