renhe-launches-ipo-but-gintech-holds-off

Renhe launches IPO, but Gintech holds off

Renhe kicks off its $540 million IPO and immediately runs into a tough challenge as US lawmakers reject the $700 billion bailout package. Gintech postpones its $150 million GDR for now.

By Anette Jönsson

September 29, 2008

After three weeks of investor education and pre-marketing, Renhe Commercial Holdings yesterday finally took the plunge and launched the institutional portion of its initial public offering with the aim to start trading in Hong Kong on October 15.

The Chinese operator and developer of underground shopping centres is the first company to attempt a Hong Kong IPO since China South Locomotive Rolling StockÆs H-share trading debut on August 21 and the outcome of the deal will be crucial for whether other listing candidates in the pipeline will gain the confidence to follow suit.

The size of the offering has been reduced slightly more since the company started pre-marketing, which is a likely reflection of the...

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