Consumer retailers to test IPO market

Philippine supermarket operator Puregold Price Club is aiming to raise at least $177 million, while tea seller Tenfu and restaurant chain Xiao Nan Guo are in the market with slightly smaller deal sizes.

A modest rebound in Asian markets yesterday, when Hong Kong was closed for the mid-autumn festival, and a slightly better tone in European and US markets overnight don’t change the fact that equity markets continue to look weak and vulnerable.

It takes very little these days to spark another sell-off and on Monday shares across Asia tumbled after fears of a Greek default gained pace over the weekend, sparking renewed concerns about a global recession. Companies with operations in Europe suffered the most, but few counters were immune as investors tried to protect their capital.

Even so, a number of Asian listing candidates have decided to go...

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