Touchpad maker to tap the market for $189 million

The Hong Kong IPO of World Wide Touch Technology, which comes ahead of one or two potentially giant share sales, will test investor appetite for smaller companies.

World Wide Touch Technology WWTT, which makes touch pads and multi-media buttons, started bookbuilding yesterday for an up to HK$1.46 billion $189 million initial public offering in Hong Kong.

The deal, which comes at a time when market talk about the highly anticipated Agricultural Bank of China IPO and a potential AIA share sale are growing louder, will test investor appetite for smaller companies. Volatile global markets, still depressed by the European debt crisis and worries about the slow economic recovery, may also put pressure on the Hong Kong-based company's share offering.

The Hang Seng Index has fallen 6.7% and the Shanghai Composite Index has tumbled 17.7% over the past...

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