Property IPOs back in focus as Excellence walks away

28 Oct 2009

Excellence Real Estate Group delayed its $1bn Hong Kong IPO late on Tuesday and a $440m new listing for China's Mingfa was hanging in the balance on Wednesday as investors' appetite for the crowded sector cooled.

Excellence, which had been set to price its IPO in the early hours of Wednesday morning, said in a statement at 11pm on Tuesday it had decided not to proceed under the original timetable “in view of the current market conditions for initial public offerings and with the ...

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