China's Hilong to postpone HK IPO

Updated: 2011-03-17 15:21


Twitter Facebook Myspace Yahoo! Linkedin Mixx

Hilong Holdings, a Chinese oil equipment manufacturer, has decided to postpone its Hong Kong IPO of up to HK$1.48 billion ($190 million) due to difficult market conditions, IFR reported on Thursday.

Related readings:
China's Hilong to postpone HK IPO Qihoo 360 plans for US IPO
China's Hilong to postpone HK IPO Vancl to delay its IPO until late 2012

The company originally planned to sell 400 million shares at an indicative price range of HK$2.5 to $3.7 per share, representing a 2011 P/E of 8.8 to 13.0 times, according to IFR, a Thomson Reuters publication.

The deal was set to be priced on March 16, with Morgan Stanley and Standard Chartered as the joint bookrunners.


Tea-ing up

More turning to Chinese tea for investment opportunities like vintage wine

A cut above

The ancient city of Luoyang is home to a treasure trove of cultural wonders.

Rise and shine

The Chinese solar energy industry is heating up following recent setbacks in the nuclear sector

Panic buying of salt
Earthquake Hits Japan
NPC & CPPCC sessions