China International Capital Corp

IPO bankers are treading cautiously around two of the post-summer season’s most highly anticipated trades in Hong Kong, after a global sell-off in stocks sent investors packing and clouded the outlook on shares sales with China links.

Jiangxi Jiangling Chassis Co’s IPO on the Singapore Exchange (SGX) is off the table, with the S$49m ($35m) transaction falling victim to the global sell-off in equity markets that took hold last week and saw investors running for the hills on all things China.

Bank of Qingdao Co, a Chinese city commercial lender, is considering a Hong Kong listing this year. Citic CLSA Securities and Goldman Sachs are joint sponsors, with Rothschild acting as financial adviser.

China Energy Engineering Corp is gearing up for a Hong Kong IPO, with the company filing a draft prospectus on Friday. But it comes as Asian equities followed a global sell-off and Chinese shares slumped 4.3%, and as bankers sound the alarm over primary deal flow.

Jiangxi Jiangling Chassis Co has opened books on Singapore’s first Mainboard IPO of the year, launching an S$49m ($35m) deal on Thursday. But with Chinese shares teetering on the edge this week, bankers are foreseeing a bumpy ride during bookbuilding.

After the uneasy calm that fell over equity markets following China’s devaluation of the renmimbi last week, investors got another rude shock on Tuesday when Shanghai stocks tumbled 6.2%, prompting bankers to mull over the possibility of pulled deals.

The Singapore IPO market finally has something to look forward to, after a quiet year to date, thanks to Jiangxi Jiangling Chassis, which filed its preliminary prospectus on August 12.