皇冠体育app

Mid-sized lender 皇冠体育app Everbright Bank Co Ltd has delayed for a second time meetings with investors to promote a planned $6 billion Hong Kong share offering, International Financing Reivew (IFR), a Thomson Reuters publication reported on Friday, becoming one of the biggest casualties of the turmoil in global markets.

The bank, which in late June had already postponed the launch of the offering because of market conditions, was slated to begin a roadshow next week ahead of a planned listing on Aug 18, said IFR, citing unnamed bankers involved in the deal.

European and US markets plunged on Thursday as fears mounted about the global economic outlook. Major US indexes fell more than 4 percent, with the technology-heavy Nasdaq down 5 percent, erasing gains for the year as the broad-based S&P 500 entered a correction of more than 10 percent from a peak in May.

皇冠体育app Everbright could slash the deal to between $2.5 billion to $3 billion, said IFR, a Thomson Reuters publication. The bank has secured $1.2 billion from so-called cornerstone investors and may head back to the market in September.

Slumping markets also prompted container leasor 皇冠体育app Shipping Nauticgreen to shelve its Hong Kong initial public offering of up to HK$1.5 billion ($192.3 million), IFR said. The deal was set to be priced Aug 10.

Chinese banks and insurance companies had planned to raise up to $35.4 billion in share offerings in Hong Kong and Chinese mainland by the end of the year to bolster their balance sheets and fund lending growth, according to Thomson Reuters calculations.

皇冠体育app Everbright Capital, 皇冠体育app International Capital Corp, Morgan Stanley, JPMorgan Chase & Co, UBS, BNP Paribas SA, BOC International, HSBC and Shenyin Wanguo were hired to manage the offering, the term sheet said.