Market deterioration, what market deterioration?

China Hongqiao scrapped its $2.2 billion initial public offering (IPO) in Hong Kong on February 1 citing deteriorating market conditions.

China Hongqiao scrapped its $2.2 billion initial public offering (IPO) in Hong Kong on February 1 citing deteriorating market conditions. The aluminium producer had been planning to use cash from the float to double its capacity and take advantage of the bullish Chinese demand outlook for this year. At the time of writing, a representative for the company was yet to respond to requests for information on what the end of the Hong Kong IPO means for those plans and whether the company might look to raise the funds elsewhere or by alternative means. But with an ali price above $2,500 on the London...

Published

February 07, 2011

00:00 GMT