Yuanda IPO

Yuanda to relaunch Hong Kong IPO at new terms

Curtain-wall designer Yuanda considers reducing the size and price of its offering, which could raise up to $537 million, as investors turn cautious after incurring losses on several recent IPOs.
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Yuanda designed the facade of the Watercube, the swimming and diving stadium built for the Beijing Olympics (AFP)
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<div style="text-align: left;"> Yuanda designed the facade of the Watercube, the swimming and diving stadium built for the Beijing Olympics (AFP) </div>

The pipeline of Hong Kong initial public offerings keeps growing, with several key deals expected during the next couple of weeks. However, investor appetite for market newcomers has clearly abated, suggesting IPO candidates might be in for a challenge.

On Friday, the increasingly difficult environment for primary offerings claimed another casualty in the form of Yuanda China Holdings. The developer of curtain walls was due to fix the price of its $370 million to $537 million Hong Kong IPO on Friday, but instead it issued a statement after the market closed saying that it intends to “alter the terms” of the deal.

It went on to clarify...

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