Chinalco pulls $1bn IPO, but round two looks likely to come after the summer
Chinalco Mining Corp International became the latest victim of Hong Kong’s volatile equity markets this week, when it postponed the launch of a planned IPO. The company had been pre-marketing for four weeks, but decided on Tuesday to delay the deal.
The companys management will continue to monitor the secondary market, but they now look likely to wait until after the summer before attempting a deal, said a banker close to the transaction.
Chinalco follows several other companies that have postponed Hong Kong offerings since an equity downturn began in
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