The afternoon deal: Shanghai IPOs
Is China First Heavy setting its $1.67 billion Shanghai IPO price below the top of its range a sign of growing realism as markets weaken and regulators demand more rational pricing?
Reuters’ Samuel Shen and Edmund Klamann report mainland IPOs are confronting a market that is sagging under the weight of heavy share supplies, fed by authorities who have approved a steady stream of new share issues to keep the market cool and avert asset price bubbles.
More from Reuters:
- First Shanghai IPO of 2010 is an encouraging flop (Reuters Breakingviews)
- XD Electric share debut China’s worst in 5-½ years (Reuters)
- Stocks sizzle as China debuts start-ups market (Reuters) from Oct 30
- China regulator urges restraint on high IPO prices (Retuers) from Jan 30