UPDATE 3-China Baosteel delays share issue, hikes steel prices

Newswire

(Recasts, adds analyst comment, updates shares) SHANGHAI, Feb 23 (Reuters) - China's Baosteel has delayed its estimated $3.7 billion stock sale, the country's biggest ever, because of weak market conditions, and raised steel prices by 10 percent to cope with red-hot demand. The delay offers beleaguered stock markets, Asia's worst performing in 2004, some breathing room and analysts now expect the giant share issue to take place in June or July instead of the first quarter as originally ...

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