eland-pulls-ipo-as-artini-raises-80-million

E-Land pulls IPO as Artini raises $80 million

Sources say E-Land had enough interest for its deal at the bottom of the price range, but the company chose to walk away.
The management of E-Land Fashion China decided yesterday to postpone its Hong Kong initial public offering even though the deal was covered at the bottom end of the price range. The decision disappointed investors and bankers, who had hoped that the first few deals in the second quarter would send a positive signal to the market and smooth the way for the numerous other IPOs in the pipeline.

However, observers say the fact that the offering was covered was encouraging and given that it was the issuer that chose to walk away, any negative sentiment arising from the cancellation shouldnÆt be that long-lived.

In a more positive development, fashion accessory and jewellery designer Artini...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222