Colby succumbs to market turmoil

Colby Net''s IPO postponement shows the depth of regional market volatility.

The signs in Hong KongÆs trendy Lan Kwai Fong restaurant district were almost right ôColby Net is Comingö. The global sourcing company, Colby Net û owned by Hong Kong restaurateur Alan Zeman û had been preparing to take its company public. But potential investors will have to wait a little longer to get their hands on this companyÆs stock.

Market volatility forced the company and its underwriters HSBC Investment Bank to postpone the deal three days into the roadshow. With Nasdaq down 16% over that same period, Colby felt that any investors who bought the deal would be caught the wrong side of market volatility if the markets carried on falling once Colby...

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