China Yongda pulls up to $434 mln HK IPO -IFR

Newswire

HONG KONG, May 28 (Reuters) - China Yongda Automobiles Services decided to pull an up to $434 million Hong Kong initial public offering because of deteriorating market conditions, IFR reported on Monday, citing two sources with direct knowledge of the plans. The Shanghai-based car dealership had already extended the bookbuilding for the deal by four days until May 28 to try and secure more orders, but with limited success, said IFR, a Thomson Reuters publication. China Yongda launched the ...

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