Goodbaby China’s decision to pull its HK$1.25 billion $161 million initial public offering in Hong Kong reflects deteriorating investor confidence towards consumer plays in China as the economy slows, two investors familiar with the company told FinanceAsia on Thursday.
Sources close to the deal said the Chinese maternity, baby, and children's products seller failed to price the offering as scheduled on Tuesday.
One fund manager who had expressed some interest in investing said he was surprised, citing the company’s solid fundamentals.
Still investors might have become more cautious about investing in Chinese companies in recent weeks after Beijing announced that the...
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