In a move that is likely to send shockwaves through the equity capital markets in Asia, Graff Diamonds early this morning decided to pull its initial public offing, making the $1 billion deal the latest and largest casualty of the volatile market environment.
There was little information available as to why Graff chose to call off the deal while it still had a full day of institutional bookbuilding to go. The Hong Kong retail offering was due to close at noon today. However, there have been plenty of media reports in recent days suggesting that the deal was struggling and sources have confirmed that the order book was only...
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