Companies in Hong Kong, Singapore Postpone IPOs

Companies planning to launch initial public offering (IPO) in Singapore and Hong Kong are postponing their listing plans amid high alert over Europe's sovereign debt crisis and concerns over the United States (US) economy, reports Reuters.

 

Sany Heavy Industry and rival XCMG Construction Machinery Co Ltd were the latest casualties caught in the storm

 

shaking markets, after deciding to postpone up to US$4.5 billion (S$5.8 billion) in deals last week.

 

According to Reuters, Singapore shares fell to a 16-month low on Friday, while Hong Kong's market ended the week with its worst performance since 2008. 

 

With listing plans being set aside, companies will have to find other ways to raise funds.


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