XCMG Construction Machinery aborts Hong Kong share sale

This as underwriters backed out of commitments to buy any unsold stock.

A Bloomberg report said, “XCMG pulled the sale after some underwriters backed out of an agreement to purchase any stock the company failed to sell, a commitment known as hard underwriting.”

A source, according to the report, said bankers on the deal may meet to try to restructure the offering.

In a statement in January XCMG said it planned to sell as much as a 20 percent stake in Hong Kong.

View the report here.

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!