The offer, which was due to close today, would have been Hong KongÆs second largest IPO this year after Bank of China. With the drop in share prices for other Chinese real estate companies, however, the deal struggled as it was getting less and less attractive - on a relative valuation basis - the longer the bookbuilding proceeded.
Deutsche Bank, HSBC and JPMorgan were joint bookrunners for the offering.
ôIn light of deteriorating market conditions, we have...
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