Guodian Technology and Environment Group has postponed the pricing of its initial public offering as the company has decided to adjust the offer structure, a source said. The company was seeking to raise between HK$4.49 billion and HK$5.03 billion $578 million to $647 million and was set to fix the price yesterday after closing the order books on Wednesday.
The deal will be downsized to ensure it will be done properly, and the pricing is expected in the second half of next week, the source said. The company is finalising legal documents and needs to get clearance from the stock exchange, but the target is still to complete...
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