Mando China postpones Hong Kong IPO

The decision comes after Asian stocks tumble on the last day of bookbuilding, but the market congestion caused by two other billion-dollar offerings may also have had a negative impact on demand, sources say.
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Mando supplies parts to manufacturers in China and globally
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<div style="text-align: left;"> Mando supplies parts to manufacturers in China and globally </div>

Mando China has decided to postpone its Hong Kong initial public offering, which was expected to raise between $213 million and $270 million. The company is a wholly owned subsidiary of Mando Corp commonly referred to as Mando Korea and one of the leading suppliers in China of chassis-related auto parts.

Mando China said in a filing to the Hong Kong stock exchange on Friday that the company and Mando Corp have decided to postpone the planned global offering and listing of the company “due to adverse market conditions that have developed since the start of the global offering, and which led to significant market volatility”.

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