Beijing supermarket chain postpones IPO

Beijing Jingkelong still awaits listing committee approval and wants to avoid going head-to-head with Bank of China.
Beijing Jingkelong has told investors it will postpone its initial public offering until June to avoid clashing with Bank of ChinaÆs much larger offering which is kicking off pre-marketing this week.

The company and its sole bookrunner DBS Vickers Securities also need more time to respond to questions from the stock exchange listing committee on a disclosure-related issue after the company's first response wasnÆt considered satisfactory, sources familiar with the matter say.

According to one source, the committee was unhappy about the omission of certain information the first time it considered the companyÆs listing application.

ôWhether it was deliberate or not, the omission of information can be a very serious issue,ö the source says.

Jingkelong,...
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