Travelsky IPO back on runway

Stabilzing market sentiment has prompted Goldman Sachs to revive the $140 million H-share flotation of China''s national airline ticketing system, with roadshows to begin on Thursday.

What should have been China's last international IPO of 2000 now looks set to become its first in 2001, pipping to market China National Offshore Oil Corporation CNOOC, which will begin roadshows four days after Travelsky Technology TTL prices. Lead manager Goldman Sachs is said by market observers to have been watching the market on a daily basis since the beginning of the year in a bid to make sure that it has a stable platform to launch the 270.32 million share transaction.

It previously pulled back from launch in late November when a sudden deterioration in sentiment towards PRC-related stocks sent the year's benchmark privatizations plunging. To date,...

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