Sun Art Retail launches IPO despite troubled markets

20 Jun 2011

Sun Art Retail Group has started pre-marketing a Hong Kong IPO that it hopes will be worth between $750m and $1bn. Five other companies are hoping to list in Hong Kong this week, but bankers are far from confident that all these deals will be a success.

ECM bankers want to get as many deals as possible closed before the end of the quarter, when companies will be forced to update their results in marketing documents. But the poor state of the secondary markets — and especially, the poor trading of well-publicised IPOs from Prada ...

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