renhe-to-extend-offer-lower-the-price

Renhe to extend offer, lower the price

The IPO fails to attract enough investors amid the sharp sell-off in global equity markets, but the Chinese operator of underground shopping malls plans to have another go at a lower price.
Renhe Commercial Holdings, which has hopes of becoming the first company to list in the Hong Kong market in the last two months, failed to attract enough investors to price the deal as scheduled on Friday. Sources familiar with the offering say the challenging market environment û the Hang Seng Index has fallen 20% since the official marketing began on September 29 - kept most international investors away and made it difficult for some of the Chinese investors who did submit orders to come up with the cash.

However, the Chinese operator of underground shopping centres has not given up its aim for a listing and the plan now is to reduce the offering price...
¬ Haymarket Media Limited. All rights reserved.

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