China Shipping Nauticgreen Holdings has put off its $193 million Hong Kong initial public offering (IPO), The Wall Street Journal reports. The offering has been postponed due to recent unfavorable market conditions.
The China shipping company intended to sell 600 million shares in an indicative price range of $0.19-0.32 per share on Aug. 19, 2011. Deutsche Bank and China Merchants Securities are the combined global coordinators for the offering.
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