China Energy Engineering has taken the first step to launching an initial public offering in Hong Kong, having filed a listing application last week, but shaky markets might make it difficult for the deal to go through any time soon.
A source familiar with the company said the power construction giant is targeting as much as $2 billion from the IPO but that a listing towards the very end of the year or in the first quarter of next year is now more realistic given current market conditions.
Hong Kong’s stock market slid 5.2% on Monday to its lowest level so far this year as Chinese growth...
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