M & A wrap: China’s grim IPO market

September 28, 2011

Weak pricing for Citic Securities’ Hong Kong share sale and a soft Shanghai debut for Great Wall Motor showed greater China’s IPO markets, while still open, are buckling in the face of economic uncertainty and hefty supply.

French insurer AXA confirmed it is exploring the possible sale of its private equity unit, adding that there is no guarantee that the process will lead to a transaction.

“The outlook for mergers and acquisitions probably will be good over the next two or three years as corporations cast off caution to foster growth, said Steven Baronoff, head of M&A at Bank of America Corp,” Bloomberg reports.

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