china-forestry-ipo-put-on-hold

China Forestry IPO put on hold

After a few days of tentative pre-marketing, plans for a roadshow are felled by international market chaos.
The chance of a second Hong Kong initial public offering in the first part of this month likely disappeared when China Forestry Holdings gave up any immediate plans for a listing after only a few days of soft pre-marketing. The Chinese owner and operator of forestry plantations had been aiming to raise somewhere between $200 million and $250 million.

This leaves Renhe Commercial HoldingsÆ $540 million offering as the only Hong Kong IPO on track for the first half of October. Renhe, which operates underground shopping malls in several Chinese cities, launched its institutional roadshow on Monday and opened its books to retail investors on Tuesday.

One source close to China Forestry blamed market volatility...
¬ Haymarket Media Limited. All rights reserved.

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