0749.HK Is Shelving The IPO Plan Due To Poor Market Conditions.
0749.HK set aside a plan to raise $369 million in Hongkong's initial public offering (IPO). This is another example of an undesirable market valuation.
The women's clothing retailer is the eighth company in Hongkong to shelve the IPO plan this year. According to people familiar with the matter, Dow Jones news agency revealed that the subscription of large institutional investors made Yi Nian fashionable dress to subscribe, but was reluctant to set the price at the low end of the 3.80-5.80 Hong Kong dollar range and made the latest decision to shelve the listing plan. On Wednesday, management is still willing to set prices at a low end, the person familiar with the matter said. But they suddenly said that the valuation level was too low. However, two companies that are making initial public offerings, Ya Tianni (0789.HK) and Asia Cement (China) (0743.HK), will continue to promote the listing activities.
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